NEW YORK (360Dx) – Orion said today that it has inked an agreement to sell its Diagnostica business to an investment fund managed by Axcel, a Nordic private equity investment company.

The fixed purchase price is about €163 million ($199.3), and Orion could receive a variable component of up to €60 million based on Axcel's return on investment at the time of its exit. The deal is expected to close in the second quarter of 2018, and it's not conditional upon the parties obtaining various approvals, including from authorities that review competitive legal issues, Orion said.

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