Thermo Fisher Scientific announces Phadia acquisition

Thermo Fisher Scientific has announced that it will be acquiring global allergy and autoimmunity diagnostics leader Phadia.

A 2.47 billion euros (2.14 billion pounds) deal has been agreed that will see Thermo Fisher Scientific purchase the company from the private equity firm Cinven, with the transaction due to be completed in the fourth quarter of 2011.

Phadia is responsible for producing a range of blood-test systems to support diagnosis and monitoring of allergy and autoimmune diseases, with ImmunoCAP and EliA ranking as its leading brands.

When Phadia becomes part of its specialty diagnostics business, Thermo Fisher Scientific will be able to capitalise on a high-growth sector, while also expanding its global reach.

Marc Casper, president and chief executive officer of Thermo Fisher, said: "This transaction is another great example of our acquisition strategy to strengthen our position in growing markets, expand our customer offerings and create value for our shareholders."

This comes after the company completed its takeover of chromatography systems manufacturer Dionex earlier this month.