The world leader in serving science
Thermo Fisher Scientific is an American multinational biotechnology product development company, created in 2006 by the merger of Thermo Electron and Fisher Scientific. In April 2013, after a competitive bidding with Hoffmann-La Roche, Thermo Fisher acquired Life Technologies Corp for $13.6 billion in a deal that would rank the firm as one of the leading companies in the genetic testing and precision laboratory equipment markets.
Thermo Electron was co-founded in 1956 by George N. Hatsopoulos and Peter M Nomikos. Hatsopoulos is a MIT PhD in mechanical engineering and Nomikos a Harvard Business School graduate. It focused on providing analytical and laboratory products and services, 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. 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 (e.g. Chromacol, Nalgene, Cellomics, Pierce Protein Research and Fermentas). 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.
In May 2011, Thermo Fisher Scientific Inc. bought Phadia to expand in testing for allergies and autoimmune diseases for €2.47 billion ($3.5 billion) in cash purchase.
In 2013 Thermo Fisher agreed to buy Life Technologies for $13.6 billion. The sale was completed on 4 February 2014, and the Life Technologies brand became part of the Life Sciences Solutions Group of Thermo Fisher Scientific.
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 May, the company announced it would acquire CDMO, Patheon, for $7.2 billion.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Scientific Materials Co.
Scientific Supplies, Ltd
Eimer & Amend
E. Machlett & Sons
Eastman Kodak Company
(Organic Chemicals div)
Apogent Technologies Inc.
Acquire Athena Diagnostics
Kendro Laboratory Products
Rupprecht and Patashnick Co., Inc.
US Counseling Services, Inc.
Laboratory Management Systems, Inc.
Research Genetics, Inc
(Est 1971 as Field Electron and Ion Co. Merged 1997)
Philips Electron Optics
Finesse Solutions, Inc.
Royal DSM NV
(Pharmaceutical div, merged 2014)