Thermo Fisher Scientific Completes Acquisition of Life Technologies

Feb 04, 2014
By PharmTech Editors

Thermo Fisher Scientific announced on Feb. 3 that it has completed its acquisition of Life Technologies Corporation for $76.13 in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of $1.5 billion in net debt. The completion of the transaction follows the receipt of all required regulatory approvals.

With the acquisition of Life Technologies, Thermo Fisher has established a new reporting segment, called Life Sciences Solutions. Mark Stevenson, who served as chief operating officer of Life Technologies, has been named an executive vice president and president of Life Sciences Solutions.

The company reports that effective Jan. 1, 2014, the company’s financial performance will be reported in four segments reflecting the following changes:

  • The 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.
  • Two small specialty diagnostics businesses within Life Technologies will become part of the Specialty Diagnostics Segment.

In addition, Thermo Fisher has agreed to sell its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare for $1.06 billion.

In connection with the completion of the transaction, Life Technologies stock ceased trading on The NASDAQ Stock Market following market close on Feb. 3.

Source: Thermo Fisher Scientific