Thermo Fisher Scientific acquires data intelligence company CorEvitas for $912.5 million in cash
Thermo Fisher Scientific, a global company specializing in medical equipment and analytical instruments, announced Thursday that it is acquiring data intelligence company CorEvitas from Audax Private Equity in a cash transaction worth $912.5 million.
The Massachusetts-based CorEvitas provides data and analytics services to pharmaceutical and biotech companies. It is projected to generate approximately $110 million in revenue in 2023. Thermo Fisher expects that the acquisition will contribute an increase of 3 cents to adjusted earnings per share in 2024.
The transaction is scheduled to be completed by the end of this year, pending regulatory approvals, Reuters reported. Once finalized, CorEvitas will be integrated into Thermo Fisher’s laboratory products and biopharma services segment, expanding the company’s capabilities in this area.
Founded in 2006 through a merger between Thermo Electron Corporation and Fisher Scientific International, Thermo Fisher Scientific operates in various fields, including life sciences, healthcare, and diagnostics. The company offers a wide range of products and services that cater to the needs of scientists, researchers, and healthcare professionals worldwide.
In the life sciences sector, Thermo Fisher Scientific provides innovative solutions for genomics, proteomics, cell biology, and drug discovery. They offer instruments, reagents, consumables, and software platforms that enable researchers to perform experiments, analyze data, and make scientific breakthroughs.
In the healthcare domain, Thermo Fisher Scientific plays a crucial role in advancing precision medicine and personalized healthcare. Their products and services support genetic testing, clinical diagnostics, and pharmaceutical research and development. They collaborate with healthcare providers, laboratories, and pharmaceutical companies to improve patient outcomes and accelerate the discovery and delivery of new therapies.
The company invests heavily in research and development to develop cutting-edge products and stay at the forefront of scientific advancements. Additionally, the company has a global presence with operations in over 150 countries, ensuring that its products and services reach customers worldwide.
The company’s portfolio includes well-known brands such as Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, and many more. They serve a diverse range of customers, including academic institutions, government agencies, pharmaceutical and biotech companies, hospitals, and clinical laboratories.