Feb 24, 2011 | Laboratory News, Laboratory Pathology
It’s a strong price to pay for this specialty clinical pathology laboratory company
Today, Thermo Fisher Scientific Inc. (NYSE:TMO) announced that it was selling its Athena Diagnostics clinical pathology laboratory business to Quest Diagnostics Incorporated (NYSE:DGX). The purchase price will be $740 million, making this the highest-priced medical laboratory acquisition of 2011.
Based in Worcester, Massachusetts, Athena Diagnostics is known for its expertise in diagnostic tests for neurological and other diseases. Back in the 1990s, Athena was one of the earliest clinical laboratory companies to build a business around developing proprietary diagnostic tests, then introducing them into the clinical marketplace. Athena Diagnostics currently offers about 350 different assays.
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Mar 3, 2010 | Laboratory Management and Operations, Laboratory News, Laboratory Pathology
Clinical Pathology Laboratory Customers of Millipore Not Likely to See Many Changes
It only took a few days for Millipore Corporation (NYSE: MIL) to find a buyer willing to outbid Thermo Fisher Scientific Inc. (NYSE: TMO). Millipore agreed to be acquired by Merck KGaA (FWB: MRK) of Darmstadt, Germany. Merck will pay about $7.2 billion for Millipore, which tops a reported bid of $6 billion made by Thermo Fisher last week.
Because many clinical pathology laboratories use Millipore’s water purification systems and other products, the pending acquisition of Millipore by Merck represents more consolidation among vendors serving the clinical laboratory industry. The acquisition is expected to close during the second half of 2010.
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Feb 25, 2010 | Laboratory News, Laboratory Pathology
Both companies are important suppliers to clinical laboratories and research labs
In recent days, news surfaced that Thermo Fisher Scientific Inc. (NYSE: TMO) was offering $6 billion to acquire Millipore Corporation (NYSE:MIL). Neither company has confirmed the offer, but yesterday Millipore issued a statement that its Directors were “evaluating strategic options.”
Should Thermo Fisher acquire Millipore, or should Millipore find another buyer, it will mean the same thing: more consolidation among vendors who are major suppliers for clinical pathology laboratories. This would continue a global consolidation trend among clinical laboratory suppliers and in vitro diagnostics (IVD) manufacturers that reaches back more than a decade and a half.
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