Thermo Fisher Scientific Completes Sales of Athena Diagnostics and Lancaster Laboratories

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Thermo Fisher Scientific Inc., the world leader in serving science, has completed the previously announced sales of its two laboratory-testing services businesses, Athena Diagnostics and Lancaster Laboratories, in two separate transactions, resulting in total proceeds of $940 million.

Athena Diagnostics has been sold to Quest Diagnostics for $740 million. Based in Worcester, Mass., Athena Diagnostics is a leading reference laboratory that provides comprehensive diagnostic testing for neurological and other diseases. The business had approximately $110 million in revenues for full year 2010, has approximately 300 employees and was part of Thermo Fisher’s specialty diagnostics business within its Analytical Technologies Segment.