Thermo Fisher Scientific Inc. (NYSE:TMO) closed its highly anticipated $3.6 billion acquisition of Swedish blood test maker Phadia.
The all-cash deal, which is closed yesterday, gives Thermo Fisher expanded reach in specialty diagnostics. Phadia supplies more than 70 percent of the world’s allergy laboratory tests and 40 percent of autoimmunity tests.
Phadia’s 1,500 global employees and approximately $525 million in revenue will be folded into Thermo Fisher’s specialty diagnostics unit.
"Phadia provides us with growth opportunities in an under-penetrated U.S. market and allows us to leverage our strong presence in emerging geographic markets," Thermo Fisher president & CEO Marc Casper said in a press release.
Read MassDevice’s interview with Thermo Fisher CEO Marc Casper.
Thermo Fisher increased its estimates for Phadia’s contribution to its bottom line, now predicting a 7 cent bump for fiscal year 2011’s adjusted earnings per share from the merger. The Waltham, Mass.-based company also upped its full year adjusted EPS guidance to a new range of $4.15 to $4.25, which amounts to between 20 percent and 23 percent EPS growth compared to FY 2010.
Revenue guidance also got a boost, now predicted at between $11.79 billion and $11.89 billion, which represents about 12 percent over 2010.
Shares of TMO stock today were up 6 percent to $53.66 compared to yesterday’s pre-announcement price of $50.21.
Here’s a roundup of companies announcing mergers, acquisitions and divestitures.
- Vasomedical picks up two Chinese firms for $1 million plus common stock
Vasomedical Inc. (OTC:VASO.PK) threw down $1 million plus up to 7.4 million restricted shares of common stock for two China-based firms that it had prior contracts with. The Westbury, N.Y. cardiac treatment and diagnostic imaging company snagged Life Enhancement Technology Instruments, which was a contact manufacturer of Vasomedical’s enhanced external counterpulsation devices, as well as Biox Instruments Co. Ltd., which was the develop and OEM partner of a series of ambulatory ECG and blood pressure monitoring devices.
Read more - PBS Biotech bioreactor firm buys device company
Camarillo, Calif.-based PBS Biotech Inc, developer of single-use bioreactors for biotechnology, acquired Integrity CMI, a medical device design and manufacturing company. The two companies, which are house just miles apart, will realign their facilities to focus on manufacturing PBS’ disposable vessels and bags.
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Here’s a roundup of dealflow and investment news:
- German heart implant maker Occlutech lands $21.6 million
Occlutech, a European medical implant maker and
frequent St. Jude Medical Inc. (NYSE:STJ) lawsuit target, closed a funding round for 15 million Euros, about $21.6 million. The Jena, Germany-based company plans to use the funds to accelerate research and development and bring new products to market in the future.
Read more - Awarepoint secures $27 million
Awarepoint Corp., a provider of real-time location systems (RTLS) for hospitals, announced that it raised $27 million in series F financing led by new investor Kleiner Perkins Caufield & Byers. Awarepoint plans to use the money to drive the next stage of growth and further promote its aware360Platform system.
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