This article was originally published in The Gray Sheet
Firm agrees to acquire the Clinical Products Group of Life Sciences International PLC from Thermo Instrument Systems for $66.7 mil. in stock. Under the terms of the deal, Thermo BioAnalysis will also assume existing indebtedness of about $37.9 mil., bringing the total value of the deal to about $104.5 mil., including about $12 mil. in cash held by the Clinical Products Group. Both Thermo BioAnalysis and Thermo Instrument are public subsidiaries of Thermo Electron. The Clinical Products Group provides equipment and consumables for cytology, histology and pathology applications, as well as consumables for blood gas and ion-selective electrode analyzers worldwide, while Thermo BioAnalysis makes biomolecular instruments and clinical laboratory equipment for biochemical research, clinical diagnosis and pharmaceutical production..
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