Thermo Fisher Scientific sets sights on Qiagen acquisition
The corporate leaderships of Thermo Fisher Scientific and Qiagen NV have mutually approved the proposal to snap up the purchased company for $44.54 (£29.68) per share. The total value of the transaction stands at approximately $11.5bn (€10.1bn), including assumption of about $1.5bn (€1.3bn) of net debt.
Ron O’Brien, Thermo Fisher Scientific’s senior director, told Outsourcing-Pharma that his company’s global reach and structure will enable the benefits of Qiagen’s technology and capabilities to reach more organizations around the world.
“This will ultimately benefit the Qiagen business, because Thermo Fisher has a way of doing things that tend to make the business operate more efficiently,” he said.
Qiagen provides a range of life-science and molecular diagnostic technologies. Its staff includes about 5,100 employees at 35 sites in more than 25 countries. Its 2019 revenue was more than $1.5bn.
Thermo Fisher Scientific chairman, president and CEO Marc Casper said the company offers the company a chance to “advance our customers' important work.”
“This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs,” he said.
The company’s sample preparation technologies are employed to extract, isolate and purify DNA, RNA and proteins from biological samples. Its assay technologies are used to make biomolecules accessible for analysis.
Thierry Bernard—Qiagen’s interim CEO, senior vice president and head of the molecular diagnostics business area—said the company’s mission of “making improvements in life possible” will continue under Thermo Fisher’s ownership.
"This strategic step with Thermo Fisher will enable us to enter a promising new era and will give our employees the opportunity to have an even greater impact,” he said.
