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Laboratory science supplier Thermo Fisher Scientific Inc. said Monday it will sell three businesses to General Electric Co.’s health care division in a $1.06 billion deal that will enable Waltham-based Thermo Fisher to complete a giant buyout of Life Technologies Corp.
GE Healthcare, based in Chalfont St. Giles, England, will buy Thermo Fisher’s cell culture, gene modulation, and magnetic beads businesses, integrating them into its own life sciences unit. The three businesses rang up a combined $250 billion in sales last year.
The divestitures were required to fulfill an agreement struck between Thermo Fisher and European regulators in November that will allow the company to move forward with its Life Technologies acquisition, gaining an entree into the personalized medicine market.
Thermo Fisher agreed last April to pay $13.6 billion for Life Technologies, a diagnostics equipment maker.