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Thermo Fisher Scientific (Waltham, Massachusetts, USA) has announced the acquisition of global clinical research and laboratory service provider, PPD (Wilmington, North Carolina, USA). The acquisition was first announced in April, with Thermo Fisher agreeing to purchase PPD for $47.50 per share, a total of $17.4 billion, plus the assumption of around $3.5 billion of net debt.
Speaking back in April, David Simmons, Chairman and Chief Executive Officer, PPD, said, “Thermo Fisher is a world‑class company with a very similar culture and values and will provide a great foundation for our colleagues to continue to deliver for our customers and to develop their own skills and careers.”
PPD has more than 26,000 employees operating across 50 countries, and it produced revenue of $4.7 billion in 2020. Following the transaction, PPD has now become part of Thermo Fisher’s Laboratory Products and Services Segment.
“We are very excited to officially welcome our PPD colleagues to Thermo Fisher Scientific,” said Thermo Fisher Chairman, President, and CEO Marc N. Casper. “Expanding our value proposition for our biotech and pharmaceutical customers with the addition of PPD’s leading clinical research services advances our work in bringing life-changing therapies to market, benefitting patients around the world.”
For more information, please visit: www.thermofisher.com