A little more than a month after Bloomberg speculated that Thermo Fisher Scientific Inc. was planning on selling two businesses for up to $1 billion, the Waltham-based titan said today it has signed definitive agreements to sell its Athena Diagnostics and Lancaster Laboratories businesses for a total of $940 million in cash.
Thermo Fisher (NYSE: TMO) reached an agreement to sell Worcester-based Athena Diagnostics, a reference laboratory that provides diagnostic testing for neurological and other diseases to Quest Diagnostics Inc. for $740 million. Athena Diagnostics has approximately 300 employees and is part of the Thermo Fisher’s specialty diagnostics business. Quest Diagnostics, based in Madison, N.J., offers diagnostic testing services through its network of laboratories and patient service centers, and reported 2010 revenue of $7.4 billion.
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