Thermo Fisher Scientific Inc. has reached an agreement to sell its microbiology business to European private equity firm Astorg for approximately $1.075 billion.

The deal represents a significant divestiture for Thermo Fisher, a major life sciences and laboratory equipment company. The microbiology business being sold focuses on products and services related to the detection and analysis of microorganisms.

Astorg, the acquiring firm, is a European private equity company that invests in mid-market companies across various sectors. The acquisition will add the microbiology operations to Astorg's portfolio of healthcare and technology investments.

The transaction is subject to customary closing conditions and regulatory approvals. Neither company disclosed the expected timeline for completing the sale.

Thermo Fisher has been actively managing its portfolio in recent years, divesting non-core assets while focusing on its primary life sciences and analytical instruments businesses. The company serves customers in healthcare, research, and industrial markets worldwide.