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Thermo Fisher Scientific Inc. said today that it recently completed its acquisition of the Sweden-based diagnostics company Phadia.
Phadia, has more than 1,500 employees around the globe and brought in revenues upwards of $525 million in 2010. Thermo Fisher (NYSE: TMO) announced plans for the acquisition in May, saying it planned to pay $3.5 billion for Phadia.
The Swedish company, which specializes in blood tests for clinical diagnosis and monitoring of allergies and autoimmune diseases, will become a part of Thermo Fisher’s speciality diagnostics business.
Marc N. Casper, president and chief executive officer of Thermo Fisher, said in a statement that he believes that the acquisition of Phadia will provide Thermo Fisher with growth opportunities in the U.S. market, as well as a chance to “leverage our strong presence in emerging geographic markets.”
It was announced earlier this month that Thermo Fisher was launching a $3.5 billion notes offering to fund the deal.
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