WALTHAM, Mass. (AP) -- Scientific instrument maker Thermo Fisher Scientific says it has agreed to pay about $3.5 billion in cash for the Swedish company Phadia, which makes blood test systems for allergy and auto-immune diseases.
Thermo Fisher Scientific Inc. expects the deal to be completed in the fourth quarter. It says the acquisition will add to its earnings right away.
Its shares rose $2.24, or 3.6 percent, to $64.98 in pre-market trading.
Phadia's brands include ImmunoCAP for allergy tests and EliA for autoimmunity tests. The Swedish company had total sales of about $525 million last year.
Phadia has about 1,500 employees globally and will become part of Thermo Fisher's Specialty Diagnostics business.
Thermo Fisher is based in Waltham, Massachusetts.
Thermo Fisher Scientific Inc. expects the deal to be completed in the fourth quarter. It says the acquisition will add to its earnings right away.
Its shares rose $2.24, or 3.6 percent, to $64.98 in pre-market trading.
Phadia's brands include ImmunoCAP for allergy tests and EliA for autoimmunity tests. The Swedish company had total sales of about $525 million last year.
Phadia has about 1,500 employees globally and will become part of Thermo Fisher's Specialty Diagnostics business.
Thermo Fisher is based in Waltham, Massachusetts.