Thermo Fisher Scientific Makes Two Acquisitions in One Week
Regarding the Priority Solutions acquisition, Thermo also stated that the acquisition would strengthen its clinical trials management services business. Services offered by Priority Solutions include shipment of pharmaceutical samples, warehousing and order fulfillment. With the NanoDrop acquisition, Thermo accesses the fast-growing niche market for microvolume spectrophotometers, in which NanoDrop is a leading provider.
Waltham, MA 10/3/07; New York, NY 10/3/07; 10/9/07—On October 3, the company announced the acquisition of Priority Solutions International from majority owner Arsenal Capital Partners for an undisclosed sum. Priority Solutions International provides third-party logistics to the pharmaceutical and healthcare industries and had 2006 revenues of around $95 million. “This acquisition brings tremendous logistics expertise and an infrastructure to our existing outsourcing services that strengthens our ability to deliver pharmaceutical supplies to the right people at the right time—anywhere in the world,” said Marijn E. Dekkers, president and CEO of Thermo Fisher Scientific. Priority Solutions will join Thermo Fisher Scientific’s biopharma services business. On October 9, Thermo Fisher Scientific announced it has bought NanoDrop Technologies, a manufacturer of microvolume UV-visible spectrophotometers. Based in Wilmington, Delaware, NanoDrop has annual revenues of $35 million. NanoDrop’s product line will be integrated into Thermo’s Analytical Technologies Segment and marketed under the Thermo Fisher brand. Financial details were not disclosed.
