Fisher Scientific buys Athena Diagnostics for $283M

In a strategic lunge aimed at expanding its presence in the fast growing field of molecular diagnostics, Fisher Scientific International has agreed to buy test-maker Athena Diagnostics for $283 million in cash while investing $15.1 million in Nanogen. Worcester, MA-based Athena markets molecular tests for Alzheimer's, MS and other conditions. Nanogen, which saw its shares surge on the news, makes biochips that incorporate multiple reagent tests into an array. Fisher's investment is tied to a collaboration deal to expand the use of Athena's products.

- here's the AP report for more information