Japan headquartered PHC Holdings Corporation has announced the completion of its acquisition of Anatomical Pathology business of Thermo Fisher Scientific for approximately US$1.14 billion.

The acquired Anatomical Pathology business will operate as a new stand-alone company named Epredia that will continue to serve as a leading global provider of comprehensive solutions in the anatomical pathology field, including microscope slides, instruments and consumables.

Through the acquisition of the Epredia business from Thermo Fisher, PHCHD will strengthen its diagnostics business by expanding its portfolio into oncology to support further business growth.

Michael Kloss, President and CEO of PHCHD said, “We are pleased to have completed this acquisition today and are excited to have added a leading global provider of solutions in the anatomical pathology industry to our group. Epredia brings a strong heritage in providing high-quality products and solutions that enable excellence in precision cancer diagnostics. It is a highly successful business that is already showing considerable growth and we believe we can work together to make it even more successful as part of the PHCHD group.”

James Post, President of Epredia, commented, “We are excited to join the PHCHD group and continue to serve the anatomical pathology market as Epredia. Although we have a new name, our mission remains the same: to improve lives by enhancing cancer diagnostics for patients around the world. We are excited to now be Epredia, powered by the key brands our customers have come to appreciate for their excellence and precision, such as Erie, Menzel, Microm, Shandon, and Richard Allan.”

James added, “PHCHD is a pioneer in the diagnostic field that is known for its precision solutions and we believe this is a unique opportunity for us to take our business to the next level. We are confident that this deal will help us to even more effectively meet the needs of customers. With the support and expertise of the PHCHD group, we believe we can drive further innovations and create more opportunities to enable better cancer diagnostics for patients.”

Michael explained, “This acquisition is important for the PHCHD group, as we see significant growth potential in this business and opportunities for synergies with our existing business segments. Across the world there is an increase in the need for cancer diagnostics, due to the rising incidence of cancers and greater demand for diagnostic examination in the emerging markets. This is an exciting step forward for PHCHD group as we continue to build a leading global healthcare company that can contribute to the health of society and improve the lives of people.”

PHCHD is a global healthcare company that offers products and services across diabetes care, diagnostics, life sciences and healthcare IT.