Thermo Fisher Scientific Completes Sales of Athena Diagnostics and Lancaster Laboratories

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.