Dynamic Healthcare M&A Database

Acquiring Party	Fisher Scientific International Inc. (NYSE: FSH), a leading provider of products and services to the scientific community.
Transferring Party	Athena Diagnostics, Inc., a venture-backed developer and provider of proprietary molecular diagnostic and immunodiagnostic tests.
Sector	Diagnostics
Date	March 16, 2006
Analysis Deepens Fisher's portfolio of proprietary genetic and other markers; enhances its capabilities in personalized molecular diagnostics. Purchase from Behrman Capital for $283m on 2005 net revenues of $55m (5.1x). Subject to closing conditions. Simultaneous with its acquisition of Athena, Fisher entered into an agreement to purchase 9% of Nanogen, Inc. (Nasdaq: NGEN) for $15m in cash. Nanogen is a leading provider of advanced molecular diagnostic equipment, microarrays and reagents for diagnostic applications. Fisher and Nanogen will collaborate to expand the use of Athena's proprietary markers and tests.
The Walden Group is a leading healthcare investment banking firm specializing in mergers, acquisitions and strategic transactions. It also invests its own funds and, together with its expert operational partners, provides value-added services to help special companies reach critical milestones. This information is copyright © 2004-2007 The Walden Group, Inc. This information is provided as a service to the public but remains the intellectual property of The Walden Group, Inc and may not be reproduced in any manner without the written permission of The Walden Group, Inc. The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason.

Dynamic Healthcare M&A Database - 1Q06