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Thermo Fisher Scientific Inc. (NYSE: TMO) has entered into a deal to buy Swedish diagnostics firm Phadia AB from a European private equity firm for $3.5 billion. The transaction is expected to close in the fourth quarter of 2011.

Phadia specializes in developing, manufacturing and marketing diagnostic blood test systems in the allergy and autoimmune disease space. Phadia had 2010 total sales of $525 million and has a worldwide head count of 1,500.

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