Thermo Fisher Scientific
|Founded||May 14, 2006Thermo Electron and Fisher Scientificby merger of|
|Headquarters||Waltham, Massachusetts, U.S.|
|Products||Analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics, pharmaceutical products|
|Revenue||US$20.918 billion (2017)|
|US$2.968 billion (2017)|
|US$2.225 billion (2017)|
|Total assets||US$56.669 billion (2017)|
|Total equity||US$25.413 billion (2017)|
Number of employees
|c. 70,000 (2017)|
Thermo Fisher Scientific is an American biotechnology product development company located in Waltham, Massachusetts, and was 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 Corporation for US$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.
Predecessors and merger
Thermo Electron 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 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 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 August, the company acquired contract development and manufacturing organization (CDMO), 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 BD (Becton, Dickinson and Company –NYSE: BDX) to acquire BD's Advanced Bioprocessing business. BD's Advanced Bioprocessing business has annualized revenue of approximately $100 million and as of October 16, 2018, has 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 June, the business announced it would acquire mass spectometry software provider, HighChem.
In 2013, Opengate Capital Group LLC sued Thermo Fisher Scientific for selling it a Mexican plant in 2012 without disclosing that a drug cartel was there. The lawsuit alleged that Thermo Fisher not only withheld documents and directed employees to conceal the presence of the drug gang at the facility, but also did not implement security upgrade protocols recommended by its own security advisors, despite the employees asking for help regarding the drug cartel. OpenGate claimed that Thermo Fisher deliberately covered up the situation during due diligence, stating that when Hamilton Scientific’s HR head for Mexico told his boss at Thermo Fisher about violent activity at the facility, he responded via email that "I believe we are through the diligence process with our buyers, so don’t know that now is the time to raise the issue." Although the lawsuit was dismissed in 2016, the allegations were not unfounded, because ironically OpenGate attempted to follow Thermo Fisher's footsteps in selling off the Mexican plant to Finsa Portafolios without mentioning the drug cartel. Finsa sued OpenGate in 2017, and both the 2013 lawsuit and the 2017 lawsuit describe similar terrorism from the Mexican drug cartel.
The following is an illustration of the company's major mergers and acquisitions and historical predecessors (this is not a comprehensive list):
Acquisitions and brands currently owned by Thermo-Fisher
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- Acros Organics BVBA
- Advanced Scientifics, Inc.
- Alfa Aesar
- Allied Analytical Systems
- Amdel Instrumentation
- Applied Research Laboratories
- ATI Instruments North America
- B•R•A•H•M•S USA, Inc.
- Best Inspection
- Brandt Instruments
- Carlo Erba
- CE Instruments
- CIDTEC, Inc.
- Clintrak Clinical Labeling Services, LLC
- Cohesive Technologies
- Consolidated Technologies, Inc.
- CRS Ltd.
- Diagnostix, Ltd.
- Doe and Ingalls
- DRI Microgenics
- Eberline LLC
- EC Apparatus
- EGS Gauging, Inc.
- EnviroTech Controls
- Epoxyn Products L.L.C.
- Erie Handcare
- Erie Scientific Company
- FEI Company
- Fermentas Inc.
- Fisons Instruments
- Flow Automation
- Fluid Data
- Flux Instruments
- Forma Scientific
- Gamma-Metrics LLC
- GH Flow Automation
- GK Intertest
- Gold Seal
- Goring Kerr Ltd
- Hascal Systems
- Helix MC
- Herz and Partner
- Houston Atlas
- Hypersil-Keystone LLC
- Instrumentation Laboratory
- Intertest Ltd
- Ion Torrent
- Don Sandora Science
- Kay Ray
- Keystone Scientific
- KeyTek LLC
- LabSystems, Inc.
- Life Technologies Corporation
- Lindberg Blue M
- Linkage Biosciences
- Magellan Biosciences
- MAS SeraMag
- Material Testing
- Matrix Technologies LLC
- Max Q
- Measuretech Canada Inc.
- MF Physics Corporation
- Microgenics Corporation
- MIE, Inc.
- Milton Roy
- Molecular BioProducts Inc
- MSC Moisture Systems
- Nalge Nunc International Corporation
- Nicolet Industrial Solutions
- Nicolet Instrument
- Nippon Jarrell Ash
- Niton Analyzers LLC
- NORAN Instruments
- Northern Scientific
- NovaWave Technologies, Inc.
- Novodirect (Germany)
- Nuclear Semiconductor
- Omega Data Systems
- One Lambda
- Orion Inc.
- Owl Separation Systems
- Peek Measurement
- Philips Scientific
- Pierce Biotechnology, Inc
- Puffer Hubbard
- PV Dry II
- Pye Unicam
- Ramsey Inc.
- Ramsey Mesulect
- Ramsey Process Controls
- RCCI Australia
- Richard-Allan Scientific Company
- Rupprecht and Patashnick
- Sentron Canada Inc.
- SLM Instruments
- Spectronic Instruments
- Tecno Europa
- Texas Nuclear
- Thermedics Detection de Mexico
- Thermo Shandon
- TJA Solutions
- TN Technologies
- Tokeim Automation
- Tracor Northern
- Trek Diagnostic Systems, Inc.
- Unicam Vacuum Generators
- Unity Lab Services
- Veeco
- VG Scientific
In September 2017, Thermo Fisher Scientific signed an agreement with the Institute of Pathology Heidelberg (IPH) 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 (COEP). The initiative focuses on establising 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.
- "Thermo Fisher Scientific Inc. 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. January 2018.
- Brennan, Zachary (March 2013). "Price of Life Tech Steady at $11B as Roche Joins Bidding War". Outsourcing-Pharma.com. Retrieved 2017-08-03.
- Bill Berkrot and Susan Kelly (15 April 2013). "Thermo Fisher to buy Life Tech for $13.6 billion". Reuters.
- "Equipamentos e produtos para laboratórios - Analítica". analiticaweb.com.br.
- http://fisherhealthcare.dirxion.com Archived 2011-02-04 at the Wayback Machine
- http://web.mit.edu/newsoffice/founders/Thermo.html Company founding
- "Financial Statements for Thermo Fisher Scientific Inc. - Google Finance". google.com.
- "Archived copy" (PDF). Archived from the original (PDF) on 2013-10-14. Retrieved 2013-07-17.CS1 maint: Archived copy as title (link)
- "PPG Vice President Fisher Dies". thefreelibrary.com.
- "Thermo Fisher Scientific : Corporate Profile". Archived from the original on 2007-07-03.
- Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific Archived 2012-07-22 at Archive.today, press release, November 9, 2006
- Merger of Thermo and Fisher anticompetitive, FTC Ruling
- 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
- FTC consent to Genevac divestiture, FTC news release
- "Thermo Fisher Rises to Record After $3.5 Billion Phadia Buy". Bloomberg.
- "Thermo Fisher Scientific Acquires Single-Use Specialist ASI for $300 Million - GEN News Highlights - GEN". GEN.
- "Thermo Fisher Scientific Agrees to Acquire Research Chemicals Firm". GEN.
- "Thermo Fisher Scientific - Thermo Fisher Scientific Completes Acquisition of Alfa Aesar to Significantly Expand Laboratory Chemicals Offering". Retrieved 5 January 2016.
- "Thermo Fisher Scientific to Acquire Affymetrix for $1.3B - GEN Genetic Engineering & Biotechnology News - Biotech from Bench to Business - GEN".
- Hallam, Kristen (27 May 2016). "Thermo Fisher Scientific to Buy FEI for About $4.2 Billion". Bloomberg. Retrieved 2016-05-28.
- Schultz, Clark (27 May 2016). "Thermo Fisher Scientific lands FEI Company". Seeking Alpha. FEI. Retrieved 2016-05-27.
- Seiffert, Don (27 May 2016). "Thermo CEO mum on whether he had competitors in $4.2B bid for FEI". Boston Business Journal. Retrieved 31 May 2016.
- "Thermo Fisher Scientific Acquires MTI-GlobalStem - Thermo Fisher Scientific eNews". news.thermofisher.com.
- "Thermo Fisher Scientific Receives Early Termination of Hart-Scott-Rodino Waiting Period for Acquisition of Finesse Solutions, Inc. - Thermo Fisher Scientific eNews". news.thermofisher.com.
- "Thermo Fisher Scientific Completes Acquisition of Finesse Solutions, Inc. - Thermo Fisher Scientific eNews". news.thermofisher.com.
- "Thermo Fisher Scientific Acquires Core Informatics, Provider of Leading Cloud-Based Scientific Data Platforms - Thermo Fisher Scientific eNews". news.thermofisher.com.
- Editors, Pharmaceutical Technology. "Thermo Fisher Scientific Acquires Patheon". www.pharmtech.com. Retrieved 2017-09-12.
- "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-19.
- Scientific, Thermo Fisher. "Thermo Fisher Scientific to Acquire Advanced Bioprocessing Business from BD". www.prnewswire.com.
- Reporter, Jonathan Saltzman-. "Thermo Fisher gets into gene therapy with $1.7b deal for Brammer Bio - The Boston Globe". BostonGlobe.com. Retrieved 2019-03-27.
- "Thermo Fisher Scientific to Acquire Brammer Bio, a Leader in Viral Vector Manufacturing". MediaRoom. Retrieved 2019-03-27.
- "Thermo Fisher shoulders into gene therapy manufacturing with $1.7B deal for Brammer". FiercePharma. Retrieved 2019-03-27.
- "Thermo Fisher sued over sale of Mexico plant used by drug cartel". 11 May 2013 – via www.reuters.com.
- "Did Thermo Fisher know about the drug cartel in its midst?". Fortune.
- Reynolds, Matt (15 June 2017). "Double Boondoggle Alleged Under Shadow of El Chapo's Drug Cartel".
- "Legal Entity Reference Guide" (PDF). Thermo Fisher Scientific. July 1, 2015.
- "Thermo Fisher Scientific to Acquire Affymetrix". BusinessWire. Retrieved 2017-12-04.
- "Thermo Fisher Scientific Completes Acquisition of Alfa Aesar to Significantly Expand Laboratory Chemicals Offering". BusinessWire. Retrieved 2017-12-04.
- "Life Technologies" (PDF). www.bioimage.com. Retrieved 2017-04-24.
- "Thermo Fisher Scientific Completes Acquisition of FEI Company". BusinessWire. Retrieved 2017-12-04.
- "Thermo Fisher Scientific Completes Acquisition of Patheon". PR NewsWire. Retrieved 2017-12-04.
- "Institute of Pathology Joins Thermo Fisher Scientific to Drive Oncology Companion Diagnostic Development". Technology Networks. Retrieved 2017-09-12.
- Business data for Thermo Fisher Scientific: