Thermo Fisher to Buy Life Technologies for $13.6 Billion in Bid to Beef Up Its Share of Next-Generation Genetic Testing Market
Multi-billion-dollar mega-deal positions Thermo Fisher to offer a broader spectrum of gene sequencing systems to clinical laboratories and pathology groups
Earlier this week, Thermo Fisher Scientific, Inc., (NYSE: TMO) of Waltham, Massachusetts, announced a deal that will shake up the market for next-generation gene sequencing and genetic testing. It will acquire Life Technologies Corporation (NASDAQ: LIFE) of Carlsbad, California.
More IVD Industry Consolidation That Affects Clinical Laboratories
It is another example of consolidation involving two companies that sell products to the clinical laboratory and anatomic pathology sectors of the lab medicine marketplace. It is also a multi-billion dollar transaction. Thermo Fisher will pay $13.6 billion for Life Technologies, or $76 per share, according to a Reuters report. This amount represents an 11.7% premium over the $68 price per share of Life Technologies’ stock when trading began Monday morning. (more…)