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Thermo Fisher Scientific (TMO) Signs Agreement to Acquire Leading Provider of Specialty In-Vitro Diagnostic Tests, B·R·A·H·M·S for $470 Million


9/3/2009 7:09:23 AM

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WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO - News), 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 - News) 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.

Contact:

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


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