Report of Thermo’s Planned Divestments
Both companies are legacies of Thermo’s 2006 merger with Fisher Scientific (see IBO 5/15/06). Athena was acquired by Fisher Scientific in 2006 for $283 million. Fisher Scientific purchased Lancaster Labs in 2005 for $150 million (see IBO 8/15/05).
New York, NY 1/12/11—Bloomberg has reported that Thermo Fisher Scientific is planning to sell its Athena Diagnostics and Lancaster Lab businesses. A reference laboratory, Athena Diagnostics develops and provides diagnostic tests for neurological disorders. Lancaster Labs is a commercial contract lab that provides testing services for the pharmaceutical, biopharmaceutical and environmental markets. Bloomberg reported that Goldman Sachs has been hired to sell Athena Diagnostics, which is expected to garner $600–$700 million. Barclays Capital is handling the sale of Lancaster Labs, which is expected to sell for $200–$300 million.
