The key aim of Thermo Fisher behind this deal is to expand specialty diagnostics portfolio with molecular diagnostics capabilities.
Thermo Fisher Scientific Inc., a US-based life sciences company, has lately announced the acquisition of QIAGEN N.V., a leading provider of sample and assay technologies for molecular diagnostics. The key aim of Thermo Fisher behind this deal is to expand specialty diagnostics portfolio with molecular diagnostics capabilities. The transaction is worth €39 per share in cash. Thermo Fisher will start a tender offer to get hold of all QIAGEN’s ordinary shares. The transaction values QIAGEN at nearly $11.5 Bn at current exchange rates, including the assumption of almost $1.4 Bn of net debt.
While speaking on the occasion, Chairman, President and Chief Executive Officer of Thermo Fisher Scientific, Marc N. Casper, remarked, “We are happy to combine our complementary offerings to boost the significant activities of our customers ranging from discovery to diagnostics. As far as the shareholders are concerned, we anticipate that the deal would generate substantial cost and revenue synergies.”
Casper further added saying that he is looking forward to welcoming the employees of QIAGEN to the Thermo Fisher family. He also expressed his excitement regarding the novel opportunities to advance precision medicine with the help of new molecular diagnostics and enhanced life sciences workflows.
Acquisition to help Thermo Fisher to Leverage Industry-Leading Capabilities
This acquisition provides Thermo Fisher Scientific with an opportunity to make the most of its industry-leading capabilities and R&D knowledge to speed up the innovation and cater to the growing healthcare needs.
Thierry Bernard, interim CEO and Senior VP, Molecular Diagnostics, at QIAGEN N.V. posited, “This deal with Thermo Fisher will allow us to enter a promising new era and provide our employees with the opportunity to have a larger impact. This will further enable us to speed up the expansion of our solutions to provide the customers across the globe with innovations that improve our knowledge pertaining to the science of life and enhance health outcomes.”