January 6, 2014 / 12:26 PM / 4 years ago

Thermo Fisher sells cell culture, other businesses to GE

Jan 6 (Reuters) - Scientific and laboratory equipment maker Thermo Fisher Scientific Inc said it would sell its cell culture, gene modulation and magnetic beads businesses to GE Healthcare, a unit of General Electric Co, for about $1.06 billion.

The businesses, expected to have combined revenue of about $250 million in 2013, will become part of GE Healthcare's life sciences division, Thermo Fisher said in a statement.

The deal will allow GE to expand its technologies for the discovery and manufacturing of medicines, vaccines and diagnostics, GE said in a separate statement.

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