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GE Finalizes Acquisition of Certain Thermo Fisher Assets

NEW YORK (GenomeWeb News) — Thermo Fisher Scientific has completed the sale of certain assets to GE, the companies said today.

Specifically, GE acquired Thermo Fisher's HyClone cell culture media and sera, as well as its gene modulation and magnetic beads businesses, for $1.065 billion.

The businesses will become part of GE Healthcare's Life Sciences division, and will allow the company to expand its offering of tool, technologies, and services for the discovery and manufacture of new medicines, vaccines, and diagnostics, GE said.

The companies first announced the deal in January. In aggregate the three businesses generated approximately $250 million in revenues in 2013. Thermo Fisher said in November it would sell the business in order to expedite approval by the European Commission of the company's $13.6 billion acquisition of Life Technologies.

Thermo Fisher's acquisition of Life Tech was completed on Feb. 3, less than a week after the US Federal Trade Commission cleared the deal.