January 28, 2019 / 11:49 PM / 9 months ago

Thermo Fisher to sell pathology unit for $1.14 billion

(Reuters) - Thermo Fisher Scientific Inc, the world’s largest maker of scientific instruments, will sell its anatomical pathology business for $1.14 billion in cash, the company said on Monday.

The buyer is PHC Holdings Corp, a healthcare holding company based in Japan.

Thermo Fisher’s pathology business sells microscopic slides, centrifuges and other instruments used in diagnosing diseases, and makes about $350 million in annual revenue. It has about 1,200 employees across the United States, Europe and China.

Waltham, Massachusetts-headquartered Thermo Fisher forecast a dilution of about 10 cents to adjusted earnings per share in 2019 as a result of the sale, which it expects to close in the second quarter.

Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Sai Sachin Ravikumar

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