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THERMO ELECTRON COMPLETES PURCHASE OF BIOMEDICAL PRODUCTS BUSINESS FROM THERMO INSTRUMENT SYSTEMS

 WALTHAM, Mass., May 28 /PRNewswire/ -- Thermo Electron Corporation (NYSE: TMO) announced today that it has completed the previously announced purchase from its public subsidiary, Thermo Instrument Systems Inc. (AMEX: THI), of the biomedical instrument products business of Nicolet Instrument Corporation, for approximately $68 million in cash in a transaction authorized by each company's board of directors. The purchase price excludes the value of Nicolet real estate, which was not sold as previously contemplated.
 Thermo Instrument will use proceeds from the sale of the biomedical instruments business to reduce its debt to Thermo Electron, which has assisted in financing recent acquisitions.
 Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
 -0- 5/28/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO THI)


CO: Thermo Electron ST: Massachusetts IN: MTC SU:

DD -- NE005 -- 3280 05/28/93 09:03 EDT
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Publication:PR Newswire
Date:May 28, 1993
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