Thermo Fisher Scientific has agreed to acquire Sweden-based in vitro allergy and autoimmunity diagnostics provider Phadia for €2.47bn from European private equity firm Cinven.
Phadia operates through two brands – ImmunoCAP for allergy tests and EliA for autoimmunity tests.
Phadia will be part of Thermo Fisher’s Specialty Diagnostics business within its Analytical Technologies Segment.
Thermo Fisher will leverage Phadia’s clinical marketing model to sell its specialty biomarker assays and other diagnostics products.
In return, Phadia will benefit from Thermo Fisher’s healthcare market channels in the US and strong presence in emerging markets.
Thermo Fisher president and CEO Marc Casper said from a market perspective, Phadia has significant growth opportunities in the large, under-penetrated US market, and can leverage the company’s strong presence in emerging geographies to further accelerate growth.
The transaction is expected to be completed in the fourth quarter of 2011.