Fisher Scientific to acquire Athena, percentage of Nanogen

By Lisa Kerner

Erie, Pa., March 16 - Fisher Scientific International, Inc. said it has entered into a definitive agreement to acquire privately held Athena Diagnostics, Inc. from Behrman Capital for $283 million in cash.

According to a company news release, Fisher said it will fund the Athena acquisition with cash on hand and expects the transaction to close early in the second quarter.

Additionally, Fisher agreed to buy 9% of Nanogen, Inc., a provider of advanced molecular diagnostic equipment, microarrays and reagents for diagnostic applications.

Nanogen will collaborate with Fisher to expand the use of Athena's proprietary markers and tests.

Athena has a portfolio of proprietary neurologic, nephrologic and endocrine diagnostic tests targeting neurogenetic and neuromuscular disorders as well as Alzheimer's disease, multiple sclerosis, obesity, kidney disease and diabetes.

"The acquisition of Athena Diagnostics is consistent with our strategy to expand our offering of high-value, high-margin products and services in growing markets," Fisher chairman and chief executive officer Paul M. Montrone said in the release.

"Building on our extensive suite of life-science and diagnostic products, Athena provides Fisher with a deep portfolio of proprietary genetic and other markers as well as tests to identify those markers."

Athena's tests encompass the areas of neurogenetic diagnostics that assist in the detection of mutations in the genetic code responsible for certain disorders. The company is based in Worcester, Mass.

Nanogen's technologies provide researchers, clinicians and physicians worldwide with methods and tools to predict, diagnose and help treat disease. The company is located in San Diego.

Fisher, based in Hampton, N.H., is a provider of products and services to the scientific community, including biochemicals, cell-culture media and proprietary RNAi technology.

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