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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.

(Reuters) – Laboratory equipment company Thermo Fisher Scientific Inc (TMO.N) agreed to acquire private-equity owned Phadia, maker of allergy and autoimmune tests, for about $3.5 billion to expand in specialty diagnostics.

Thermo said on Thursday that the deal to buy Sweden-based Phadia from European private equity firm Cinven would immediately add to earnings. The deal is expected to be completed in the fourth quarter and add 26 to 30 cents per share to 2012 earnings. (Reporting by Lewis Krauskopf, editing by Gerald E. McCormick)