Thermo Fisher Scientific


Thermo Fisher Scientific is an American provisioner of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science, and other laboratories in academia, government, and industry. Based in Waltham, Massachusetts, Thermo Fisher was created in 2006 by the merger of Thermo Electron and Fisher Scientific, to form a company with US$ 9 billion in combined revenues.
The combined company has added significantly to its technologies, workforce, and revenues through the acquisition of other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation in 2013, Advanced Scientifics and Alfa Aesar, both in 2015; Affymetrix and MTI-GlobalStem, both in 2016; FEI Company, Finesse Solutions, Core Informatics, and Patheon, all in 2017; Becton, Dickinson's Advanced Bioprocessing business in 2018 ; and Brammer Bio in 2019.
As of 2017, the company had revenues of $21 billion and was a Fortune 500 company. As of 2018, the company employed on the order of 70,000 workers, and was reporting $US 24 billion in annual revenues.
In March 2020, Thermo Fisher received emergency use authorization from the FDA for a test for SARS-COV-2 to help mitigate the COVID-19 pandemic.

Predecessors and merger

was co-founded in 1956 by George N. Hatsopoulos and Peter M Nomikos. Hatsopoulos was an MIT PhD in mechanical engineering and Nomikos a Harvard Business School graduate. It focused on providing analytical and laboratory products and, and had revenues of over $2 billion in 2004.
Fisher Scientific was founded in 1902 by Chester G. Fisher from Pittsburgh. It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.
On May 14, 2006, Thermo Electron and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange; the merged company was named Thermo Fisher Scientific, and had on the order of 30,000 employees, and reported US$ 9 billion in combined revenue. On November 9, 2006, the companies announced that the merger had been completed. However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac. In April 2007, Genevac was sold to Riverlake Partners LLC and the merger closed with FTC approval.
Currently, the company's products are sold under the brand names of Thermo Scientific, Fisher Scientific, and several other recognized brand names. According to company figures, 46% of its sales are in life sciences, 20% in healthcare, and 34% in industrial/environmental and safety.
Thermo Fisher has offices and operations in many countries, notably the U.S. and in Europe.

Acquisition history

The parent entities, Thermo Electron and Fisher Scientific, acquired 15 companies between them before their merger, and another 56 companies since the founding of the joint company in 2006, numbers which may be lower estimates.
In May 2011, Thermo Fisher Scientific Inc. bought Phadia to expand in testing for allergies and autoimmune diseases for €2.47 billion in cash purchase.
In April 2013, after a competitive bidding with Hoffmann-La Roche, Thermo Fisher acquired Life Technologies Corporation for US$13.6 billion in a deal, adding further service lines related to advanced DNA sequencing and genetic testing.
In February 2015, the company announced it would acquire Advanced Scientifics for $300 million in a cash-deal. ASI designs, manufactures and delivers technologies used in bioprocessing solutions. In June 2015, the company announced its intention to acquire Alfa Aesar, a global manufacturer of research chemicals for $405 million from Johnson Matthey, and the acquisition was completed at the end of September
In January 2016, the company announced it would acquire Affymetrix for $1.3 billion. On May 27, 2016, the company announced it would acquire FEI Company for $4.2 billion, a manufacturer of electron microscopes. This acquisition is anticipated to close in early 2017 and will contribute to the growth of Thermo's Analytical Instruments business group. In November the company announced it would acquire MTI-GlobalStem, a previously privately held company that develops reagents for cell transfection, neurobiology and stem cell research.
In February 2017, the company acquired Finesse Solutions, Inc., developer of scalable control automation systems and software for bioproduction after receiving early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. The transaction was completed a day later. In March, the company announced it would acquire Core Informatics, provider of cloud-based platforms supporting scientific data management. In August, the company acquired Patheon, a contract development and manufacturing organization serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion. As of 2017, the company had revenues of $20.9 billion and was a Fortune 500 company.
In September 2018, Thermo Fisher Scientific announced it had signed a definitive agreement with Becton, Dickinson and Company to acquire their Advanced Bioprocessing business. THis BD business had annualized revenue of approximately $100 million; as of October 16, 2018, it had been integrated into Thermo Fisher's Life Sciences Solutions Segment.
In March 2019, Thermo Fisher announced its entry into the gene therapy manufacturing market with a $1.7 billion cash acquisition for Brammer Bio. In May 2019, Thermo Fisher partnered with MMJ International Holdings to manufacture drug products developed by MMJ for the treatment of Multiple Sclerosis and Huntington's Disease. In June, the business announced it would acquire mass spectrometry software provider, HighChem.
In March 2020, Thermo Fisher agreed to purchase Qiagen, a molecular diagnostics company, for $10.1 billion. In July, the offer for Qiagen was raised from €39 to €43 per share.
Source:
In September 2017, Thermo Fisher Scientific signed an agreement with the Institute of Pathology Heidelberg to establish its Center of Molecular Pathology at Heidelberg University Hospital as the newest member of the Next Generation Sequencing Companion Dx Center of Excellence Program. The initiative focuses on establishing strategic collaborations with leading, European-based organizations that can lead studies using Thermo Fisher's Oncomine portfolio of research panels destined for development as companion diagnostics to help drive precision oncology in the region.

Controversy

In February 2019, Thermo Fisher announced that it would stop selling its equipment in Xinjiang. In June 2020, Thermo Fisher Scientific was reported to sell its equipment to security services in China for use in what was alleged as part of a genetic surveillance program.