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Thermo Fisher seals $13.6bn Life Tech deal

Post a comment04-Feb-2014

Thermo Fisher Scientific buys Life Technologies Corporation for $13.6bn
Thermo Fisher Scientific buys Life Technologies Corporation for $13.6bn

Thermo Fisher Scientific has completed its acquisition of Life Technologies Corporation for $13.6bn plus the assumption of $1.5bn in net debt.

Thermo Fisher agreed to sell its cell culture (sera and media), gene modulation and magnetic beads businesses to General Electric (GE) Healthcare for $1.06bn to allay competition concerns.

Federal Trade Commission (FTC) said the firm had to sell the assets in two scientific sectors to ensure competition for the deal to go through.

The European Commission approved GE Healthcare as the buyer of Thermo Fisher's divestments businesses producing and supplying media and sera for cell culture, gene silencing products and polymer-based magnetic beads last week.

Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific, said: “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.”  

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