European private equity firm Astorg will acquire the microbiology business of Thermo Fisher $TMO Scientific in a deal valued at roughly $1.075 billion, structured as a combination of cash and a $50 million seller note.
Products from the microbiology unit include culture media and antimicrobial susceptibility testing tools, serving customers across clinical, pharmaceutical, and food safety markets, the company said. Housed within Thermo Fisher's specialty diagnostics segment, the unit brought in $645 million in revenue last year.