Updated: 08/10/2011 12:45 p.m.

Thermo Fisher Scientific Inc. (NYSE:TMO) just announced plans to open an offering of senior notes to fund its upcoming $3.5 billion buyout of Swedish blood test maker Phadia. *
The offering will include notes due 2016 and notes due 2022, but the public offering price hasn’t yet been announced.
The Waltham, Mass.-based medical giant announced plans to acquire Phadia mid-May, just days after finally closing a $2 billion deal to purchase Sunnyvale, Calif.-based laboratory equipment maker Dionex Corp. (NSDQ:DNEX).
Read MassDevice’s interview with Thermo Fisher CEO Marc Casper.
The all-cash acquisition for Phadia, which supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests, will give Thermo Fisher expanded reach in specialty diagnostics.
In May officials at Thermo Fisher said they expected the acquisition to immediately add between $0.26 and $0.30 per share to their bottom line in 2012.
Phadia reported 2010 sales of about $525 million and has around 1,500 employees. About $2 billion of the $3.5 billion selling price will go toward paying off Phadia’s debts, according to SEC filings.
Thermo Fisher is coming off of a stellar quarter with a huge boost to shareholder value and record sales. Sales during the three months ended July 2 rose 12 percent to $2.9 billion, compared to $2.6 billion during the same period last year.
Profits spiked 121 percent to $523 million, or $1.36 per share, a huge boost from last year’s $237 million, or 57 cents per share.
*Correction, August 10, 2011: Due to a reporting error, this article originally stated that Thermo Fisher’s offering had been priced at $3.6 billion. The pricing had not yet been announced, and has since been priced at $2.2 billion. Return to the corrected sentence.