Thermo Fisher Scientific

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Type Public (NYSETMO)
S&P 500 Component
Industry Laboratory equipment
Founded 2006 by Merger of Thermo Electron and Fisher Scientific
Headquarters Waltham, Massachusetts, USA
Key people Marc N. Casper (President & CEO)
Peter M. Wilver, (CFO)
Products Analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics
Revenue Increase$13.1 Billion USD (2013)
Net income Increase$1.27 Billion USD (2013)
Employees 50,000 (2014)
Thermo Fisher Scientific headquarters in Waltham, MA

Thermo Fisher Scientific is an American multinational, biotechnology product development company, created in 2006 by the merger of Thermo Electron and Fisher Scientific.[1][2] In April 2013, after a competitive bidding with Hoffmann-La Roche,[3] 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.[4][5][6]

Predecessors and merger[edit]

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.[7] It focused on providing analytical and laboratory products and services, and had revenues of over $2 billion in 2004.[8]

Fisher Scientific was founded in 1902 by Chester G. Fisher, a Presbyterian Christian from Pittsburgh.[9][10] It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.[11]

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.[12] On November 9, 2006, the companies announced that the merger had been completed.[12] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[13] In April 2007, Genevac was sold to Riverlake Partners LLC[14] and the merger closed with FTC approval.[15]

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, Cole-Parmer, 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.[11]

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.[16]