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THERMO INSTRUMENT PLANS TO SELL BIOMEDICAL PRODUCTS BUSINESS TO THERMO ELECTRON CORPORATION

 WALTHAM, Mass., Jan. 15 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) announced today that it intends to sell the biomedical instrument products business of its Nicolet Instrument Corporation subsidiary to its parent company, Thermo Electron Corporation (NYSE: TMO), in a transaction authorized by each company's board of directors.
 Earlier today Thermo Instrument announced that it has agreed to purchase California-based Spectra-Physics Analytical, a manufacturer of liquid chromatography and capillary electrophoresis analytical instruments, for approximately $69 million. Proceeds of the sale of the biomedical instruments business will be used by Thermo Instrument to reduce its debt to the parent company, which has assisted in financing recent acquisitions and is expected to provide financing for the acquisition of Spectra-Physics.
 The price for the Nicolet biomedical instruments business has not been finalized but is expected to be in the range of $65 million to $85 million, including assumption of debt. The annual sales rate of the biomedical instruments business is approximately $55 million.
 Nicolet's biomedical instruments business includes manufacturing and marketing of a variety of products for assessing muscle, nerve, sleep, hearing, and brain blood-flow disorders and related work in clinical neurophysiology. The business is headquartered in Madison, Wis., with subsidiaries in Los Gatos, Calif., and Uberlingen, Germany. No changes in management or operations are planned in connection with the proposed sale.
 John N. Hatsopoulos, executive vice president and chief financial officer of Thermo Electron, said, "The proposed sale allows Thermo Instrument Systems to better maintain its strong focus on environmental analysis and related markets, while more closely aligning Nicolet's clinical products with Thermo Electron's growing presence in the biomedical market."
 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- 1/15/93
 /CONTACT: John N. Hatsopoulos of Thermo Electron Corporation, 617-622-1111/
 (THI TMO)


CO: Thermo Instrument Systems Inc.; Thermo Electron Corporation ST: Massachusetts IN: SU:

DD -- NE004 -- 5232 01/15/93 09:11 EST
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Publication:PR Newswire
Date:Jan 15, 1993
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