GE to acquire Thermo Fisher units for $1.06 bn

Jan 06, 2014

General Electric plans to acquire cell research divisions from Thermo Fischer Scientific for $1.06 billion to boost the conglomerate's health unit, the companies announced Monday.

Under the transaction, GE Healthcare will buy Thermo Fisher cell research businesses to further efforts to develop major new medicines and vaccines in .

GE said the deal would enhance its "bioprocessing footprint in Asia, the Americas and Europe."

Cell culture plays a major role in the manufacturing of medicines to treat cancer, rheumatoid arthritis and other ailments, GE said. GE will also boost its technologies in protein analysis with the deal.

"Life Sciences is one of our strongest and fastest-growing business areas, driven by the world's demand for improved diagnostics and new, safer medicines," said John Dineen, chief executive of GE Healthcare.

"This deal makes a good business even better and will help us realize our vision of bringing better healthcare to more people at lower cost."

GE recently announced plans to spin off its North American retail finance business as it seeks to emphasize its industrial business.

Explore further: EU approves Thermo Fisher buy of Life Technologies

add to favorites email to friend print save as pdf

Related Stories

EU approves Thermo Fisher buy of Life Technologies

Nov 26, 2013

European regulators have approved scientific instrument maker Thermo Fisher Scientific Inc.'s $13.6 billion acquisition of Life Technologies Corp., on the condition that they divest parts of their businesses.

Imec demonstrates strained germanium finFETs at IEDM 2013

Dec 11, 2013

At this week's IEEE International Electron Devices Meeting (IEDM 2013), imec reported the first functional strained germanium (Ge) quantum-well channel pMOS FinFETs, fabricated with a Si Fin replacement process on 300mm Si ...

Recommended for you

Lenovo wraps up purchase of Motorola phone unit

4 hours ago

Lenovo Group announced the completion of its acquisition of Motorola Mobility from Google Inc. on Thursday in a move aimed at making the Chinese computer maker a global smartphone brand.

Baidu profit up 27 percent as mobile grows

7 hours ago

Chinese search engine Baidu Inc. said Thursday its quarterly profit rose 27 percent as user traffic for its mobile operation surpassed passed its desktop computer-based search business.

Samsung vows changes after mobile profit plunges

8 hours ago

Samsung Electronics Co. admitted erring in its smartphone strategy and vowed Thursday to overhaul its handset lineup after profit from those devices tumbled last quarter to the lowest in more than three years.

WhatsApp founders own nearly $9B in Facebook stock

8 hours ago

WhatsApp founders Jan Koum and Brian Acton received 116 million shares of Facebook stock currently worth nearly $9 billion when they sold their unprofitable messaging service to the social networking leader earlier this month.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.