Qiagen offers life science and molecular diagnostic solutions to over 500,000 customers across the globe
Thermo Fisher has agreed to acquire molecular diagnostic solutions provider Qiagen (Credit: Thermo Fisher Scientific Inc.)
Thermo Fisher Scientific has agreed to acquire molecular diagnostics and sample preparation technologies provider Qiagen in a deal valued at around $11.5bn.
Based in the Netherlands, Qiagen provides life science and molecular diagnostic solutions to more than 500,000 customers across the globe.
Thermo Fisher Scientific chairman, president and CEO Marc Casper said: “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. For shareholders, we expect the transaction to be immediately accretive and to generate significant cost and revenue synergies.”
Qiagen’s sample preparation technologies will help extract, isolate and purify DNA, RNA and proteins from a range of biological samples.
Its assay technologies will be applied to amplify and enrich these biomolecules to make them visible and ready for analysis.
The instruments provided by the company will allow automating these workflows. The firm’s bioinformatics systems offer relevant and actionable insights to the customers.
Qiagen will help Thermo Fisher to expand its specialty diagnostics portfolio
The acquisition of Qiagen will allow Thermo Fisher to expand its specialty diagnostics portfolio with advanced molecular diagnostics capabilities, including infectious disease testing.
With revenue of $1.53bn in 2019, Qiagen employs around 5,100 people at 35 locations in over 25 countries.
Qiagen interim CEO Thierry Bernard said: “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.”
Subject to the satisfaction of customary closing conditions, the deal is expected to be completed in the first half of 2021.
J.P. Morgan Securities and Morgan Stanley & Co are acting as financial advisors to Thermo Fisher, while Wachtell, Lipton, Rosen & Katz is acting as legal counsel.
Goldman Sachs International is acting as lead financial advisor and Barclays Bank is serving as financial advisor to Qiagen.
In July 2019, PHC Holdings completed the acquisition of anatomical pathology business from Thermo Fisher Scientific for around $1.14bn.