Thermo Fisher Scientific Completes Acquisition of Life Technologies

Feb 13, 2014
By LCGC Editors

Thermo Fisher Scientific (California, USA) has completed its acquisition of Life Technologies Corporation for $13.6 billion, following receipt of all required regulatory approval. Thermo Fisher has now established a new segment, Life Science Solutions that will be headed by Mark Stevenson, who served as CEO of Life Technologies.

The completion of the acquisition follows an earlier announced sale of Thermo Fisher’s cell culture, gene modulation, and magnetic beads business to GE Healthcare for $1.06 billion. As of 1 January 2014, the company’s financial performance will be reported in four segments:

• The new Life Sciences Solutions Segment will consist of the majority of the former Life Technologies and Thermo Fisher Biosciences businesses.
• Thermo Fisher’s Global Chemicals business will move from the Biosciences business to the Laboratory Products and Services Segment.
• Thermo Fisher’s Analytical Technologies Segment will be renamed Analytical Instruments to reflect the transfer of the Biosciences businesses to other segments, as mentioned above.
• Two small specialty diagnostics businesses within Life Technologies will become part of the Specialty Diagnostics Segment.

Marc N. Casper, President and CEO of Thermo Fisher Scientific, said: “We are pleased to announce that this transaction is now complete, and excited about our opportunity to create unrivalled leadership in serving research, life sciences, specialty diagnostics and applied markets.” He added: “Our combined offering provides cutting-edge technologies, such as genomics and proteomics, to accelerate life sciences research and improve human health. And our complementary strengths in biosciences and bioprocessing will accelerate drug discovery, development, and production. With the addition of Life Technologies, we are in an even stronger position to help our customers achieve their goals for innovation and productivity.”

For more information visit: www.thermofisher.com