Corporate Banner
Satellite Banner
Genotyping & Gene Expression
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Thermo Completes Life Tech Acquisition

Published: Tuesday, February 04, 2014
Last Updated: Tuesday, February 04, 2014
Bookmark and Share
The completion of the transaction follows the receipt of all required regulatory approvals.

Thermo Fisher Scientific  announced that it has completed its acquisition of Life Technologies Corporation for $76.13 ($76.1311786) in cash per fully diluted common share, or approximately $13.6 billion, plus the assumption of $1.5 billion in net debt. 

“We are pleased to announce that this transaction is now complete, and excited about our opportunity to create unrivaled leadership in serving research, life sciences, specialty diagnostics and applied markets,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “Our combined offering provides cutting-edge technologies, such as genomics and proteomics, to accelerate life sciences research and improve human health. And our complementary strengths in biosciences and bioprocessing will accelerate drug discovery, development and production. With the addition of Life Technologies, we are in an even stronger position to help our customers achieve their goals for innovation and productivity.”

Business Segments

With the acquisition of Life Technologies, Thermo Fisher has established a new reporting segment, called Life Sciences Solutions. Mark Stevenson, who served as chief operating officer of Life Technologies, has been named an executive vice president and president of Life Sciences Solutions, reporting directly to Casper.

Effective January 1, 2014, the company’s financial performance will be reported in four segments reflecting the following changes:

• The new Life Sciences Solutions Segment will consist of the majority of the former Life Technologies and Thermo Fisher Biosciences businesses.

• Thermo Fisher’s Global Chemicals business will move from the Biosciences business to the Laboratory Products and Services Segment.

• Thermo Fisher’s Analytical Technologies Segment will be renamed Analytical Instruments to reflect the transfer of the Biosciences businesses to other segments, as mentioned above.

• Two small specialty diagnostics businesses within Life Technologies will become part of the Specialty Diagnostics Segment.

• As previously announced, Thermo Fisher has agreed to sell its cell culture (sera and media), gene modulation and magnetic beads businesses to GE Healthcare for $1.06 billion.

In connection with the completion of the transaction, Life Technologies stock ceased trading on The NASDAQ Stock Market following market close today.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,500+ scientific posters on ePosters
  • More than 5,000+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Thermo, Children’s Hospital Los Angeles Partner
Children’s Hospital Los Angeles (CHLA) and Thermo Fisher Scientific have agreed to develop a next-generation sequencing (NGS)-based panel designed specifically for pediatric cancer research. The assay would be CHLA’s first NGS panel designed to target biomarkers associated with childhood cancers.
Friday, February 19, 2016
ATCC, CDC and Thermo Partner on Public Health RT-PCR Assay
New technology supports HIV-1 drug resistance surveillance in resource-limited countries.
Wednesday, June 25, 2014
Biodesign Institute, Thermo Fisher Partner on $9M Radiation Test
Partnership enters a new, $9M phase of a project to produce a diagnostic test to rapidly measure an individual’s level of absorption of ionizing radiation.
Wednesday, June 04, 2014
Thermo, Nuclea Biotechnologies Collaborate to Develop Diabetes Markers
Companies pooling their expertise to develop novel multiplexed research methods for high-throughput quantification of native insulin and its therapeutic analogs.
Monday, June 02, 2014
Thermo Receives EC Clearance for Life Tech Acquisition
Thermo Fisher Scientific announced that it has received approval from the European Commission (EC) for its pending acquisition of Life Technologies Corporation.
Tuesday, November 26, 2013
Thermo Scientific Enters into a Long-Term Agreement with Fujirebio
Combination of Thermo Scientific B•R•A•H•M•S PCT assay and Lumipulse platforms to test patients suspected of having sepsis.
Thursday, November 22, 2012
Thermo Fisher Scientific Announces Collaboration to Establish New Tokyo Biomarker Research Center
Thermo Fisher Scientific Inc., today announced a landmark collaboration that aims to introduce mass spectrometry-based workflows and technologies into Japan to advance personalized medicine and healthcare.
Monday, July 26, 2010
Thermo Fisher Scientific’s Mass Spectrometry Technology Helps Children’s Hospital Boston Isolate Biomarker for Acute Pediatric Appendicitis
Children’s Hospital research team believes discovery will lead to more accurate, efficient diagnosis
Tuesday, December 15, 2009
Thermo Fisher Scientific Collaborates with the Institute of Cancer Research to Create Proteomics Laboratory
The ICR's new, proteomics laboratory is equipped with a complete Thermo Scientific proteomics workflow.
Friday, July 24, 2009
Thermo Fisher Scientific Wins Innovation Award in Informatics for Second Consecutive Year
Thermo Scientific Nautilus LIMS for Biobanks increases throughput at Hunt Research Centre and Biobank.
Thursday, July 16, 2009
Cancer Research Technology Selects Maybridge Fragments for Lead Discovery Programmes
CRT purchases 2,000 Maybridge Fragments as the foundation of its new fragment screening library.
Friday, May 22, 2009
Thermo Fisher Scientific Welcomes New Members to RNAi Global Initiative
The new member institutions include the Children's Hospital of Eastern Ontario Research Institute and the University of Leiden in Amsterdam.
Monday, March 02, 2009
Thermo Fisher Scientific Joins Microsoft in the Bio IT Alliance
The BioIT Alliance is an organization of more than 40 pharmaceutical, biotech, hardware and software companies working together to realize the potential of personalized medicine.
Friday, February 02, 2007
Scientific News
Mass Spec Technology Drives Innovation Across the Biopharma Workflow
With greater resolving power, analytical speed, and accuracy, new mass spectrometry technology and techniques are infiltrating the biopharmaceuticals workflow.
One Step Closer to Precision Medicine for Chronic Lung Disease Sufferers
A study led by University of North Carolina at Chapel Hill, and National Jewish Health, has provided evidence of links between SNPs and known COPD blood protein biomarkers.
NCI Collaborates with Multiple Myeloma Research Foundation
NCI collaborates with MMRF to incorporate genomic and clinical data into NCI Genomic Data Commons database.
Probe Identifies Schizophrenia Genes That Stunt Brain Development
Scientists have isolated schizophrenia-related gene variants that change gene expression in the brain.
CES Score May Predict Response to Cancer Treatment
Researchers identify new type of biomarker that helps predict prognosis and response to several types of cancer treatment.
Heart Arrhythmia Caused by Mosaic of Mutant Cells
Researchers have solved the genetic mystery of an infant suffering from heart arrhythmia.
New Therapeutic Target for Crohn’s Disease
A promising new target for drugs that treat IBD has been identified along with a possible biomarker for IBD severity.
Uncovering Water Bear Resilience
A protein identified in water bears can protect DNA of human cells from lethal doses of radiation damage.
Peer Reviewed Study Demonstrates Mass Spec Technique
The peer reviewed study demonstrates MS workflow, TMTCalibrator workflow, which dramatically enhances detection of key early stage Alzheimer’s biomarkers.
Smart Material Hunts Cancers
Team has created smart material that locates and images cancer or tumour sites in tissue.
Skyscraper Banner

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
5,000+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!