THERMO FISHER SCIENTIFIC HOOKS QIAGEN IN $11.5 BILLION DEAL
Thermo Fisher Scientific advances further into genetic testing
A global company with a bio scientific focus
Thermo Fisher Scientific (TFS) moves deeper into the genetic testing market sector with its purchase of Qiagen. Qiagen (NYSE: QGEN) specializes in sample and assay technologies used in academic and pharmaceutical research, applied testing, molecular diagnostics, oncology plus other clinical and scientific applications.
Qiagen shareholders net a decent premium on the deal
With its official main base in Venlo, Limburg, Netherlands but primary operating headquarters in Hilden, Germany, Qiagen generates just under $1.2 billion in annual sales. Stockholders reportedly will receive a 23% premium. As a timely coincidence to world events, Qiagen has a coronavirus virus test on the market that it is selling to China.
Thermo Fisher Scientific continues to build its advanced global bioscience business
TFS (NYSE: TMO) is a healthcare conglomerate with substantial lines of clinical disposables, diagnostic equipment, laboratory instrumentation, reagents, software plus medical research technology solutions and services. TFS is a respected competitor and very well known to its academic, government, healthcare provider organization, life science and pharmaceutical clients.
Primary rivals to Thermo Fisher Scientific in core as well as genetic research lines include:
- Agilent Technologies
- BGI Group
- Eurofins Scientific
- Harvard Bioscience
A successful healthcare leader with multiple capabilities
TFS is based in Waltham, MA and generates over $24 billion in sales. They operate various business units and divisions, these are the main ones:
- Applied Biosystems
- Fisher Scientific
- Thermo Scientific
- Unity Lab Services
While TFS may choose to keep Qiagen as a separate business unit, its product lines align well with the TFS’ Applied Biosystems business unit and may be integrated into the unit to minimize redundancies.
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