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: Ericsson sues Apple over patent violations

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

Google hits back at rivals with futuristic HQ plan

22 hours ago

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

Judge orders suspension of WhatsApp in Brazil

Feb 26, 2015

(AP)—A judge says he has ordered the suspension of the globally popular instant messaging system WhatsApp across Brazil because it has allegedly failed to help in an investigation.

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.