Magellan Biosciences, a global manufacturer of products designed to make diagnostic testing easier, more cost-effective, and less labor intensive, announced that it has sold its microbiology business, TREK Diagnostic Systems, to Thermo Fisher Scientific (NYSE: TMO). The sale will enable Magellan to focus all its resources on its LeadCare® and Dynex® businesses, both of which have been experiencing strong growth. Terms of the sale were not disclosed.
"Thermo Fisher is an ideal home for the TREK business and its 150 employees around the world," commented Magellan's President and CEO, Hiroshi Uchida, Ph.D. "TREK's automated blood culture, microbial identification, and microbial susceptibility testing platforms complement Thermo Fisher's portfolio of microbiology technologies. We will now focus on realizing our ambitious plans for expanding the reach and growth of our remaining businesses," Dr. Uchida continued. "This is an exciting time for Magellan."