(Reuters) - Thermo Fisher Scientific Inc, the world’s largest maker of scientific instruments, will sell its anatomical pathology business for $1.14 billion in cash, the company said on Monday.
The buyer is PHC Holdings Corp, a healthcare holding company based in Japan.
Thermo Fisher’s pathology business sells microscopic slides, centrifuges and other instruments used in diagnosing diseases, and makes about $350 million in annual revenue. It has about 1,200 employees across the United States, Europe and China.
Waltham, Massachusetts-headquartered Thermo Fisher forecast a dilution of about 10 cents to adjusted earnings per share in 2019 as a result of the sale, which it expects to close in the second quarter.
Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Sai Sachin Ravikumar