AsianScientist (Feb. 4, 2019) – Japan-headquartered PHC Holdings Corporation (PHCHD) has announced that it has signed a definitive agreement with Thermo Fisher Scientific (Thermo Fisher) to acquire the latter’s anatomical pathology business for approximately US$1.14 billion.
Thermo Fisher’s anatomical pathology business provides laboratories around the world with microscope slides, instruments and consumables to accelerate life sciences research, solve complex analytical challenges, improve patient diagnostics, deliver medicines to market and increase laboratory productivity. Prior to the acquisition by PHCHD, the department was part of Thermo Fisher’s specialty diagnostics segment, with approximately 1,200 employees across the US, Europe and China.
PHCHD currently expects to close the transaction with Thermo Fisher in the second quarter of 2019, subject to customary closing conditions and the receipt of applicable regulatory approvals. Once complete, the acquisition is expected to augment PHCHD’s products and services across diabetes care, diagnostics, life sciences and healthcare IT.
“We are pleased to have signed the agreement with Thermo Fisher Scientific. Their anatomical pathology business has shown steady growth with their strong customer base in global hospital markets, especially in the United States. This is a solid business with good growth potential and we believe it will create value for our stakeholders as part of our growing diagnostics and healthcare portfolio,” said Dr. Hidehito Kotani, CEO of PHCHD.
Source: PHC Holdings Corporation; Photo: Shutterstock.
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