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Thermo Fisher to Sell Lab Workstations Business

NEW YORK (GenomeWeb News) – Thermo Fisher Scientific said after the close of the market on Thursday that it intends to sell its laboratory workstations business within the next 12 months.

In a document filed with the US Securities and Exchange Commission, the company said that senior management had made the decision to sell the "non-core" business on June 22. The laboratory workstation business is part of Thermo Fisher's Laboratory Products and Services Segment, and in 2011 it had revenues of $180 million and an operating loss of about $6 million, net of restructuring costs of $4 million.

Thermo Fisher will report the financial results for the business as discontinued operations beginning in the second quarter of 2012. During the quarter, it expects to record an after-tax charge of $50 million as the estimated loss on the planned sale.