Thermo Fisher Pays $3.5B for Cinven’s Phadia

Laboratory equipment company Thermo Fisher Scientific Inc. will pay about $3.5 billion for Phadia, a maker of allergy and autoimmune tests, Reuters reported. Phadia is owned by European private equity firm Cinven. The deal, expected to close during the fourth quarter of this year, will help Thermo Fisher expand its reach in specialty diagnostics.