PHC Holdings Signs Agreement to Acquire Anatomical Pathology Business from Thermo Fisher Scientific
PHC Holdings Corporation (headquarters: Tokyo, Japan, hereafter PHCHD) has announced that it has signed a definitive agreement with Thermo Fisher Scientific Inc. (NYSE: TMO, hereafter Thermo Fisher), the world leader in serving science, to acquire Thermo Fisher’s Anatomical Pathology business for approximately US$1.14billion.
Thermo Fisher’s Anatomical Pathology business is one of the leading providers of microscope slides, instruments and consumables in the industry and is part of Thermo Fisher’s Specialty Diagnostics Segment, operating in the US, Europe and China with approximately 1,200 employees.
PHCHD is a global healthcare company that offers value-added products and services across diabetes care, diagnostics, life sciences and healthcare IT. Aiming to achieve further business growth, PHCHD will expand its business portfolio through the acquisition of the business from Thermo Fisher.
Hidehito Kotani, Ph.D. and CEO of PHCHD commented, “We are pleased to have signed the agreement with Thermo Fisher Scientific. Their anatomical pathology business has shown steady growth with their strong customer base in global hospital markets, especially in the United States. This is a solid business with good growth potential and we believe it will create value for our stakeholders as part of our growing diagnostics and healthcare portfolio.”
PHCHD currently expects to close the transaction in the second quarter of 2019, subject to customary closing conditions and the receipt of applicable regulatory approvals.