Cinven, a private equity firm based in London, UK, will sell Swedish diagnostics maker Phadia to Thermo Fisher Scientific for US$3.52 billion in cash. Phadia will become part of Thermo Fisher's specialty diagnostics business within its analytical technologies segment
Allergy testing is high-growth market, with in vitro allergy testing growing 9% a year globally. About one in five people in North America and Europe suffers from allergies. The in vitro allergy testing market has significant untapped potential for growth, particularly in the United States, where there is low prevalence of allergy testing today.
Marc N Casper, President and CEO of Thermo Fisher, said that the acquisition of Phadia is a major step forward in their strategy to enhance Thermo Fisher’s global presence in specialty diagnostics, one of their key growth platforms.