Thermo Fisher Scientific establishes specialty diagnostics segment

Thermo Fisher Scientific has announced the creation of a financial reporting segment for specialty diagnostics, following its recent acquisition of Phadia.

The new division will comprise five businesses – analytical pathology, clinical diagnostics, microbiology, healthcare market channel and immunodiagnostics, the latter of which will encompass Phadia's operations.

Following this restructuring, Thermo Fisher's financial performance will be reported in three segments – the other two being analytical technologies and laboratory products and services – coming into effect as of the third quarter of 2011.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said this new structure is the best way of creating transparent reporting practices for the organisation.

"It also aligns with the way we manage these businesses to best serve our customers and capitalise on our greatest opportunities for growth," he added.

The Phadia acquisition was completed in August 2011 and gives Thermo Fisher control over a leading developer of allergy and autoimmune disease diagnostic tools.