Thermo Fisher Scientific

Thermo Fisher Scientific is an American provisioner of scientific instrumentation, reagents and consumables, and software and services to healthcare, life science, and other laboratories in academia, government, and industry (including in the biotechnology and pharmaceutical sectors). Based in Waltham, Massachusetts, Thermo Fisher was created in 2006 by the merger of Thermo Electron and Fisher Scientific, to form a company with US$ 9 billion in combined revenues.

Thermo Fisher Scientific Inc.
Public
Traded as
ISINUS8835561023 
IndustryLaboratory equipment
FoundedMay 14, 2006 (2006-05-14) by merger of Thermo Electron and Fisher Scientific
HeadquartersWaltham, Massachusetts, U.S.
Area served
Worldwide
Key people
ProductsAnalytical/other equipment and instruments, laboratory reagents and consumables, science software and services—for research, discovery, analysis, and manufacturing (incl. pharmaceutical and diagnostic products)
Revenue US$24.358 billion (2018)[1]
US$3.783 billion (2018)[1]
US$2.938 billion (2018)[1]
Total assets US$56.232 billion (2018)[1]
Total equity US$27.586 billion (2018)[1]
Number of employees
c. 70,000 (2018)[1]
Websitewww.thermofisher.com
Thermo Fisher Scientific's previous headquarters in Waltham, Massachusetts
Thermo Fisher Scientific office in Canada

The combined company has added significantly to its technologies, workforce, and revenues through the acquisition of other reagent, consumable, instrumentation, and service providers, including Life Technologies Corporation in 2013 (for US$ 13.6 billion, for probe reagents and advanced DNA sequencing services), Advanced Scientifics (US$ 300 million, for bioprocessing technologies) and Alfa Aesar (US$ 405 million, for research chemicals), both in 2015; Affymetrix (US$ 1.3 billion, for gene chip technologies) and MTI-GlobalStem (amount unknown, for cell transfection and neurobiology), both in 2016; FEI Company (US$ 4.2 billion, an electron microscope manufacturer), Finesse Solutions (amount unknown, for bioproduction control systems and software), Core Informatics (amount unknown, for cloud-based scientific data management), and Patheon (US$ 7.2 billion, for its contract development and manufacturing services), all in 2017; Becton, Dickinson's Advanced Bioprocessing business in 2018 (amount unknown, for further bioprocessing products); and Brammer Bio in 2019 (US$ 1.7 billion, for gene therapy manufacturing capabilities).

As of 2017, the company had revenues of $21 billion and was a Fortune 500 company. As of 2018, the company employed on the order of 70,000 workers, and was reporting $US 24 billion in annual revenues.

In March 2020, Thermo Fisher received emergency use authorization from the FDA for a test for SARS-COV-2 to help mitigate the COVID-19 pandemic.[2]

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.[3] It focused on providing analytical and laboratory products and, and had revenues of over $2 billion in 2004.[4]

Fisher Scientific was founded in 1902 by Chester G. Fisher from Pittsburgh.[5][6] It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.[7]

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, and had on the order of 30,000 employees, and reported US$ 9 billion in combined revenue.[8] On November 9, 2006, the companies announced that the merger had been completed.[8] However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac.[9] In April 2007, Genevac was sold to Riverlake Partners LLC[10] and the merger closed with FTC approval.[11]

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.[7]

Thermo Fisher has offices and operations in many countries, notably the U.S. and in Europe.[12]

Acquisition history

The parent entities, Thermo Electron and Fisher Scientific, acquired 15 companies between them before their merger (see graphic), and another 56 companies since the founding of the joint company in 2006,[13] numbers which may be lower estimates.

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.[14]

In April 2013, after a competitive bidding with Hoffmann-La Roche,[15] Thermo Fisher acquired Life Technologies Corporation for US$13.6 billion in a deal, adding further service lines related to advanced DNA sequencing and genetic testing.[16]

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.[17] In June 2015, the company announced its intention to acquire Alfa Aesar, a global manufacturer of research chemicals for $405 million[18] from Johnson Matthey, and the acquisition was completed at the end of September[19]

In January 2016, the company announced it would acquire Affymetrix for $1.3 billion.[20] On May 27, 2016, the company announced it would acquire FEI Company for $4.2 billion, a manufacturer of electron microscopes.[21][22] This acquisition is anticipated to close in early 2017 and will contribute to the growth of Thermo's Analytical Instruments business group.[23] 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.[24]

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.[25] The transaction was completed a day later.[26] In March, the company announced it would acquire Core Informatics, provider of cloud-based platforms supporting scientific data management.[27] In August, the company acquired Patheon, a contract development and manufacturing organization serving the pharmaceutical and biotechnology sectors, for approximately $7.2 billion.[28] As of 2017, the company had revenues of $20.9 billion and was a Fortune 500 company.[29]

In September 2018, Thermo Fisher Scientific announced it had signed a definitive agreement with Becton, Dickinson and Company (BD) to acquire their Advanced Bioprocessing business. THis BD business had annualized revenue of approximately $100 million; as of October 16, 2018, it had been integrated into Thermo Fisher's Life Sciences Solutions Segment.[30]

In March 2019, Thermo Fisher announced its entry into the gene therapy manufacturing market with a $1.7 billion cash acquisition for Brammer Bio.[31][32][33] In May 2019, Thermo Fisher partnered with MMJ International Holdings to manufacture drug products developed by MMJ for the treatment of Multiple Sclerosis and Huntington's Disease.[34][35] In June, the business announced it would acquire mass spectrometry software provider, HighChem.[36]

In March 2020, Thermo Fisher agreed to purchase Qiagen, a molecular diagnostics company, for $10.1 billion.[37] In July, the offer for Qiagen was raised from €39 to €43 per share (€11.3 billion in total).[38][39]

Thermo Fisher Scientific Acquisitions
  • Thermo Fisher Scientific (formed in 2006 by the merger of Thermo Electron and Fisher Scientific)
    • Thermo Fisher Scientific
      • Fisher Scientific
        • Scientific Materials Co. (Est 1902)
        • Scientific Supplies, Ltd (Acq 1925)
        • Eimer & Amend (Acq 1940)
        • E. Machlett & Sons (Acq 1957)
        • Janssen Chimica
        • Eastman Kodak Company (Organic Chemicals division)
        • Apogent Technologies Inc. (Acq 2004)
        • Athena Diagnostics (Acq 2006)
      • Thermo Electron
        • Kendro Laboratory Products (Acq 2005)
        • Rupprecht and Patashnick Co., Inc. (Acq 2005)
        • NITON LLC (Acq 2005)
        • InnaPhase Corporation (Acq 2004)
        • US Counseling Services, Inc. (Acq 2004)
        • Jouan SA (Acq 2004)
        • Laboratory Management Systems, Inc. (Acq 2003)
    • Phadia (Acq 2011)
    • Life Technologies (Acq 2013)
      • Invitrogen Corporation (Merged 2008)
        • NOVEX
        • Research Genetics, Inc (Acq 1999)
        • Ethrog Biotechnology
        • Molecular Probes
        • Dynal
        • Panvera
        • InforMax
        • BioSource
        • CellzDirect
        • Zymed
        • Caltag Laboratories
      • Applied Biosystems (Merged 2008)
    • Advanced Scientifics (Acq 2015)
    • Alfa Aesar (Acq 2015)
    • Affymetrix (Acq 2016)
      • Genetic MicroSystems (Acq 1999)
      • Neomorphic (Acq 2000)
      • ParAllele Bioscience
      • USB Corporation (Acq 2008)
      • Panomics (Acq 2008)
      • True Materials (Acq 2000)
      • eBioscience (Acq 2012)
    • FEI Company
    • MTI-GlobalStem (Acq 2016)
    • Finesse Solutions, Inc. (Acq 2017)
    • Core Informatics (Acq 2017)
    • Patheon (Acq 2017)
      • Agere Pharmaceuticals (Acq 2015)
      • Gallus Pharmaceuticals (Acq 2014)
      • Royal DSM NV (Pharmaceutical div, merged 2014)
      • MOVA (Acq 2004)
      • Banner Pharmacaps (Acq 2013)

Brands currently owned by Thermo-Fisher

Source:[40]

  • Accumed
  • Acros Organics BVBA
  • Advanced Scientifics, Inc.
  • Affymetrix[41]
  • Alfa Aesar[42]
  • Allied Analytical Systems
  • Ambion
  • Amdel Instrumentation
  • AMINCO-Bowman
  • Applied Research Laboratories
  • Argus
  • ARL
  • ARL/Fisons
  • ATI Instruments North America
  • Autometrics
  • B•R•A•H•M•S USA, Inc.
  • Baird
  • Barnstead
  • Best Inspection
  • BioImage[43]
  • Biolab
  • Brandt Instruments
  • Cahn
  • CarePlan
  • Carlo Erba
  • CASCO
  • CE Instruments
  • CEDIA
  • Chase
  • Chemiclave
  • Chromacol
  • CIDTEC, Inc.
  • Clintrak Clinical Labeling Services, LLC
  • Cohesive Technologies
  • Consolidated Technologies, Inc.
  • CRS Robotics Ltd.
  • Damon/IEC
  • Denley
  • Diagnostix, Ltd.
  • Dionex
  • Doe and Ingalls
  • DRI Microgenics
  • DUKE
  • Eberline LLC
  • EC
  • EC Apparatus
  • EGS Gauging, Inc.
  • Electron
  • Elemental
  • EnviroTech Controls
  • Epoxyn Products L.L.C.
  • Epsilon
  • Erie Handcare
  • Erie Scientific Company
  • ESA
  • Esco
  • FEI Company[44]
  • Fermentas Inc.
  • Finnigan
  • Finnzymes
  • Fisons Instruments
  • Fi-Streem
  • Flow Automation
  • Fluid Data
  • Flux Instruments
  • Forma
  • Forma Scientific
  • Gamma-Metrics LLC
  • GH Flow Automation
  • Gibco
  • GK Intertest
  • Gold Seal
  • Goring Kerr Ltd
  • Graseby
  • H+P
  • HAAKE
  • Harris
  • Harvey
  • Hascal Systems
  • Helix MC
  • Herz and Partner
  • Heto
  • Hilger
  • Hitech
  • Holten
  • Houston Atlas
  • Hypersil-Keystone LLC
  • Icore
  • IEC
  • Inel
  • Innofluor
  • Instrumentation Laboratory
  • Intertest Ltd
  • Invitrogen
  • Ionalytics
  • Ion Torrent
  • Isotemp
  • Jarrell-Ash
  • Jewett
  • Don Sandora Science
  • Jouan
  • Kay Ray
  • Kendro
  • Kevex
  • Keystone Scientific
  • KeyTek LLC
  • Labindustries
  • Lab-Line
  • Labquake
  • LabSystems, Inc.
  • LDC
  • Life Technologies Corporation
  • Lindberg Blue M
  • Linear
  • Linkage Biosciences
  • Locator
  • Magellan Biosciences
  • MAS SeraMag
  • Material Testing
  • Matrix Technologies LLC
  • Mattson
  • Max Q
  • Measuretech Canada Inc.
  • Megapure
  • Menzel
  • MF Physics Corporation
  • Microgenics Corporation
  • MIE, Inc.
  • Milton Roy
  • MoistureSystems
  • Molecular BioProducts Inc
  • MSC Moisture Systems
  • Nalge Nunc International Corporation
  • NanoDrop
  • Nanopure
  • Napco
  • National Scientific
  • NCAT
  • Neslab
  • Nexray
  • Nicolet Industrial Solutions
  • Nicolet Instrument
  • Nippon Jarrell Ash
  • Niton Analyzers LLC
  • NORAN Instruments
  • Northern Scientific
  • NovaWave Technologies, Inc.
  • Novodirect (Germany)
  • Nuclear Semiconductor
  • Nuova
  • Omega Data Systems
  • One Lambda
  • Onix
  • OpitBind
  • Optek
  • Orion Inc.
  • Owl Separation Systems
  • Oxoid
  • Patheon[45]
  • Pactech
  • Pathatrix
  • Peek Measurement
  • Phadia
  • Phenom-World
  • Philips Scientific
  • Pierce Biotechnology, Inc
  • PMC
  • Polychromix
  • Polysonics
  • Precision
  • Priocheck
  • Proxeon
  • Puffer Hubbard
  • PV Dry II
  • Pye Unicam
  • Pyrometer
  • QEMSCAN
  • QMS
  • Quantech
  • Quest
  • Queue
  • R&P
  • Ramsey Inc.
  • Ramsey Mesulect
  • Ramsey Process Controls
  • RCCI Australia
  • Redox
  • Revco
  • Remel
  • Richard-Allan Scientific Company
  • Rupprecht and Patashnick
  • Sarasota
  • Savant
  • Scintag
  • ScreenMates
  • Sensall
  • Sensititre
  • Sentron Canada Inc.
  • Seradyn
  • SeraMag
  • SLM Instruments
  • Sorvall
  • Spectrace
  • Spectra-Physics
  • SpectraSYSTEM
  • Spectra-Tech
  • Spectronex
  • Spectronic Instruments
  • Speedbeads
  • SSDetect
  • STEM
  • Sterilemax
  • TDX
  • Tecno Europa
  • Texas Nuclear
  • Thermedics Detection de Mexico
  • Thermolyne
  • Thermo Shandon
  • ThermoQuest
  • TJA Solutions
  • TMQ
  • TN Technologies
  • Tokeim Automation
  • Tracor Northern
  • Trek Diagnostic Systems, Inc.
  • Tremetrics
  • TSP
  • Turner
  • Unicam
  • Unicam Vacuum Generators
  • Unity Lab Services
  • Vapo-Steril
  • Varioklav
  • Veeco
  • VersaTrek
  • VG Scientific
  • Westronics

Research partnership

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 establishing 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.[46]

Controversy

In February 2019, Thermo Fisher announced that it would stop selling its equipment in Xinjiang.[47] In June 2020, Thermo Fisher Scientific was reported to sell its equipment to security services in China for use in what was alleged as part of a genetic surveillance program.[48]

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References
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  2. "FDA Approves Abbott Laboratories Coronavirus Test, Company To Ship 150,000 Kits". IBTimes.com. 19 March 2020. Archived from the original on 20 March 2020.
  3. http://web.mit.edu/newsoffice/founders/Thermo.html Company founding
  4. "Financial Statements for Thermo Fisher Scientific Inc. - Google Finance". google.com.
  5. "Archived copy" (PDF). Archived from the original (PDF) on 2013-10-14. Retrieved 2013-07-17.CS1 maint: archived copy as title (link)
  6. "PPG Vice President Fisher Dies". thefreelibrary.com.
  7. "Thermo Fisher Scientific : Corporate Profile". Archived from the original on 2007-07-03.
  8. Merger of Thermo Electron and Fisher Scientific Completed, Forming Thermo Fisher Scientific Archived 2012-07-22 at Archive.today, press release, November 9, 2006
  9. Merger of Thermo and Fisher anticompetitive, FTC Ruling
  10. 3 April 2007. Riverlake Partners, LLC Acquires UK-based Genevac, Ltd. Press Release.
  11. FTC consent to Genevac divestiture, FTC news release
  12. "Our Locations". Thermo Fisher Scientific. Retrieved March 22, 2020.
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  29. "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-19.
  30. Scientific, Thermo Fisher. "Thermo Fisher Scientific to Acquire Advanced Bioprocessing Business from BD". www.prnewswire.com.
  31. 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.
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  34. Somerset, Sara Brittany. "Hall Of Flowers: Acquisitions And Celebrity Cannabis Debuts". Forbes. Retrieved 2020-01-06.
  35. "To Support MS Cannabinoid Studies, MMJ Asks US Agency to OK Shipments from Canada". Multiple Sclerosis News Today. 2019-08-14. Retrieved 2020-01-06.
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  38. https://uk.reuters.com/article/uk-qiagen-m-a-thermo-fisher/thermo-fishers-sweetened-qiagen-bid-fails-to-win-over-key-investor-idUKKCN24H2A2
  39. https://www.biospace.com/article/releases/thermo-fisher-scientific-and-qiagen-n-v-agree-on-amended-terms-to-acquisition-agreement/?s=79
  40. "Legal Entity Reference Guide" (PDF). Thermo Fisher Scientific. July 1, 2015.
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  46. "Institute of Pathology Joins Thermo Fisher Scientific to Drive Oncology Companion Diagnostic Development". Technology Networks. Retrieved 2017-09-12.
  47. Wee, Sui-Lee (2019-02-21). "China Uses DNA to Track Its People, With the Help of American Expertise". The New York Times. ISSN 0362-4331. Retrieved 2020-06-20.
  48. Wee, Sui-Lee (2020-06-17). "China Is Collecting DNA From Tens of Millions of Men and Boys, Using U.S. Equipment". The New York Times. ISSN 0362-4331. Retrieved 2020-06-17.
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