Original from: Thermo Fisher Scientific

Thermo Fisher Scientific (TMO.N), opens new tab plans to sell its diagnostics unit for about $4 billion in an attempt to offload some of its low-growth assets, the Financial Times reported on Thursday, citing people familiar with the matter.

The contract drug manufacturer recently enlisted advisers to explore private equity interest in part of its diagnostics business, including its microbiology unit, which produces infectious disease testing equipment, according to the Financial Times.

The auction process does not guarantee a sale, the report said, adding that Thermo Fisher may decide to retain the asset.

Thermo Fisher did not immediately respond to a Reuters' request for comment.

In February, the company acquired Solventum's purification and filtration business for about $4.1 billion in cash.

Source: Thermo Fisher plans to sell parts of diagnostics unit for $4 billion, FT reports