Diversified technology company Danaher Corp. (DHR) said Monday that it has completed the previously announced acquisition of mass spectrometry business from life science solutions provider Life Technologies Corp. (LIFE) for $450 million in cash. The business involves Life Technologies' 50% interest in Applied Biosystems/MDS Sciex or AB Sciex, a joint venture with MDS Inc. (MDS.TO, MDZ).
Further, Danaher acquired MDS's equal stake in AB Sciex along with the business which was formerly known as Molecular Devices Corp. This combined business now forms the Analytical Technologies division of MDS. Danaher paid $650 million in cash for acquiring this business.
AB Sciex is a designer and manufacturer of mass spectrometers, highly sensitive and sophisticated instruments used by researchers and clinicians to identify and quantify specific molecules in complex samples.
AB Sciex was today made as a separate company that was acquired by Danaher. The transactions were originally announced at the end of last year.
DHR is currently trading at $71.51, up $0.16 or 0.22% on the NYSE. MDS is currently at C$8.25, up $0.34 or 4.30% on the Toronto Stock Exchange and MDZ is currently trading at $7.76, up $0.35 or 4/56% on the NYSE. LIFE is currently trading at $49.36, down $0.35 or 0.70% on the Nasdaq.
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