The Life Sciences business grew 10 percent year over year, while the Diagnostics business inched up 1 percent.
Danaher is offering 11 million shares of its common stock at $123 per share and 1.5 million shares of its mandatory convertible preferred stock at $1,000 per share.
Danaher has commenced its concurrent offerings of $1.35 billion of shares of its common stock and $1.35 billion of shares of its mandatory convertible preferred stock.
Danaher is financing the deal with $3 billion from an equity offering, cash on hand, and proceeds from an issuance of debt and/or new credit facilities.
The firm's Life Sciences segment grew 10 percent year over year during the quarter while its Diagnostics segment was up 4 percent.
Researchers showed that the test had equivalent results to a lab-based assay and has the potential for a faster turnaround time.
A lack of attractive targets, high valuations, and a more attractive IPO market contributed to a 45 percent year-over-year decline in M&A.