Health care company Thermo Fisher Scientific said Monday it has agreed to sell three units to General Electric for roughly $1.06 billion in cash.
Waltham, Mass.–based Thermo Fisher will sell its cell culture, gene modulation and magnetic beads businesses to GE, which will fold the units into its GE Healthcare division. In its own announcement of the deal, GE said that by adding the units—which combined to generate nearly $250 million in revenue last year—it will expand its existing medical diagnostic technology business.
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