Thermo Fisher/Phadia - Top 10 medical device deals of 2011

Companies: Thermo Fisher/Phadia
Value: $3.5 billion

Scoop: Thermo Fisher Scientific agreed to buy Swedish diagnostics firm Phadia last May for $3.5 billion, continuing its buying spree of companies to shore up its core businesses, The New York Times DealBook explained at the time.

Phadia, which has about 1,500 employees and had 2010 revenue of roughly $525 million, manufactures and markets complete blood test systems to support the diagnosis and monitoring of allergies, asthma and autoimmune diseases.

But watchers thought the Phadia buy might not be the end of Thermo's acquisitions. It was rumored to be in the hunt for Millipore, which ultimately was sold to Merck KGaA for about $6 billion, the Boston Globe noted.

In the fall, Thermo created a new third financial reporting segment, to reflect the Phadia acquisition.

"Following our acquisition of Phadia, our Specialty Diagnostics business has significant scale--with more than $2 billion in revenues--and greater access to a number of high-growth end markets. Our new reporting structure provides investors with better visibility into our company, highlighting not only our leading capabilities in Specialty Diagnostics, but also our high-growth Analytical Technologies and marketing-leading Laboratory Products and Services businesses," Thermo President and CEO Marc Casper said at the time.

Thermo Fisher/Phadia - Top 10 medical device deals of 2011