Thermo Acquires Specialty Diagnostics Company

Specialty Diagnostics has been a fast-growing business for Thermo. The Specialty Diagnostics business had 2008 revenue of $1.3 billion, representing approximately 29% of the Analytical Technologies unit’s sales. B.R.A.H.M.S. is jointly owned by senior management and HBM BioVentures. B.R.A.H.M.S. will form the core of Thermo’s new European Center of Excellence for the clinical diagnostics business. B.R.A.H.M.S.’s flagship product is the PCT (Procalcitonin) biomarker for the diagnosis and treatment of sepsis, according to Thermo.

Waltham, MA 9/2/09; Henningsdorf, Germany 9/3/09—Thermo Fisher Scientific has agreed to purchase B.R.A.H.M.S. AG for €330 million ($470 million), including debt and liabilities. B.R.A.H.M.S. provides specialty in vitro diagnostic tests based on biomarkers for sepsis, cardiovascular and pulmonary diseases, as well as intensive care treatments and prenatal screening. B.R.A.H.M.S. offers tests and instrumentation for laboratory as well as point of care settings. The company has 400 employees and recorded 2008 revenues of €75 million ($105 million). “B.R.A.H.M.S. assays and instrumentation are a strong complement to our existing products for immunoassay testing, and its robust R&D pipeline creates promising opportunities to commercialize new patented diagnostic tests,” stated Thermo Fisher Scientific President and CEO Marijn E. Dekkers. “In addition, the company gives us a significant reagent manufacturing footprint in Europe, while allowing us to leverage our deep customer access in the U.S. to market innovative new B.R.A.H.M.S. products, such as PCT and others now in development. This acquisition reinforces our strategy of building on our leadership in niche specialty diagnostics markets.” B.R.A.H.M.S. will join the Specialty Diagnostics business within Thermo Fisher Scientific’s Analytical Technologies Segment. The transaction is expected to close in September.

< | >