WALTHAM, Mass.--(BUSINESS WIRE)--Sep. 3, 2009--
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving
science, has signed a definitive agreement to acquire B.R.A.H.M.S. AG
for €330 million (approximately $470 million USD). B.R.A.H.M.S. is a
leading provider of specialty in-vitro diagnostic tests based on
its patented biomarkers for sepsis, cardiovascular and pulmonary
diseases, as well as intensive care treatments and prenatal screening.
The company is based outside of Berlin in Hennigsdorf, Germany, and has
sales offices in Europe and the U.S. With approximately 400 employees
serving customers in 65 countries around the world, B.R.A.H.M.S.
generated 2008 revenues of €75 million (approximately $105 million USD).
The transaction is expected to be accretive to earnings per share in
2010.
B.R.A.H.M.S. is best known for its flagship product, Procalcitonin
(PCT), a proprietary biomarker for the diagnosis and treatment of
sepsis, a potentially life-threatening condition in which a patient’s
bloodstream is overwhelmed by bacterial infection. B.R.A.H.M.S.’ PCT
test has become the gold standard in Europe for the early diagnosis of
sepsis, which is critical for patient survival, and the subsequent
monitoring of treatment. The European testing model is expected to be
replicated in the U.S., where approximately 750,000 cases occur every
year and one third are fatal. The company’s strong development pipeline
is focused on new biomarkers for bacterial infections, cardiovascular
disease and neurological disorders. B.R.A.H.M.S. also offers diagnostic
tests and instrumentation for thyroid, prenatal, autoimmune and oncology
screening in both laboratory and point-of-care settings.
“B.R.A.H.M.S. is a significant addition to our specialty diagnostics
portfolio, bringing exciting new products and technologies to an area of
our company that offers some of our greatest opportunities for growth,”
said Marijn E. Dekkers, president and chief executive officer of Thermo
Fisher Scientific. “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. 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. is jointly owned by its senior management team and a
private equity firm. The transaction, which is expected to close in late
September 2009, is subject to applicable regulatory approvals and a
customary post-closing purchase price adjustment. B.R.A.H.M.S. will be
integrated into the Specialty Diagnostics business within Thermo
Fisher’s Analytical Technologies Segment.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving
science, enabling our customers to make the world healthier, cleaner and
safer. With 2008 revenues of $10.5 billion, we have approximately 34,000
employees and serve over 350,000 customers within pharmaceutical and
biotech companies, hospitals and clinical diagnostic labs, universities,
research institutions and government agencies, as well as environmental
and industrial process control settings. Serving customers through two
premier brands, Thermo Scientific and Fisher Scientific, we help solve
analytical challenges from routine testing to complex research and
discovery. Thermo Scientific offers customers a complete range of
high-end analytical instruments as well as laboratory equipment,
software, services, consumables and reagents to enable integrated
laboratory workflow solutions. Fisher Scientific provides a complete
portfolio of laboratory equipment, chemicals, supplies and services used
in healthcare, scientific research, safety and education. Together, we
offer the most convenient purchasing options to customers and
continuously advance our technologies to accelerate the pace of
scientific discovery, enhance value for customers and fuel growth for
shareholders and employees alike. Visit www.thermofisher.com.
The following constitutes a “Safe Harbor” statement under the Private
Securities Litigation Reform Act of 1995: This press release contains
forward-looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking
statements are set forth in the Company’s Quarterly Report on Form 10-Q
for the period ended June 27, 2009, under the caption “Risk Factors,”
which is on file with the Securities and Exchange Commission and
available in the “Investors” section of our Website under the heading
“SEC Filings.” Important factors that could cause actual results to
differ materially from those indicated by forward-looking statements
include risks and uncertainties relating to: competition and its effect
on pricing, spending, third-party relationships and revenues; the
need to develop new products and adapt to significant technological
change; implementation of strategies for improving internal growth; general
worldwide economic conditions and related uncertainties; dependence
on customers’ capital spending policies and government funding policies;
the effect of exchange rate fluctuations on international operations;
use and protection of intellectual property; the effect of
changes in governmental regulations; the effect of laws and
regulations governing government contracts; the effect of competing with
certain of our customers and suppliers; and the effect of rapid changes
in the healthcare industry. While we may elect to update forward-looking
statements at some point in the future, we specifically disclaim any
obligation to do so, even if our estimates change and, therefore, you
should not rely on these forward-looking statements as representing our
views as of any date subsequent to today.
Source: Thermo Fisher Scientific Inc.
Thermo Fisher Scientific Inc.
Media Contact Information:
Karen
Kirkwood, 781-622-1306
karen.kirkwood@thermofisher.com
Website:
www.thermofisher.com
or
Investor
Contact Information:
Ken Apicerno, 781-622-1111
ken.apicerno@thermofisher.com
