WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO - News), the world leader in serving science, today announced it has entered into an agreement to acquire Biolab, the leading provider of analytical instruments, life science consumables and laboratory equipment for scientific, environmental and healthcare markets in Australia and New Zealand, for AUD $175 million (approximately USD $120 million). The transaction is expected to be completed on April 30, 2009. Biolab is the Scientific and Medical Division of Alesco Corporation Limited (ASX: ALS - News).
“As the premier commercial channel in Australia, New Zealand and the South Pacific, Biolab offers a broad portfolio of products and services to support Thermo Fisher’s continued growth in the region,” said Marijn E. Dekkers, president and chief executive officer of Thermo Fisher Scientific. “This acquisition significantly strengthens our presence in these markets, and will enable us to better serve customers in both public and private sectors through an expanded range of offerings.”
During its nearly 150-year history, Biolab has become highly regarded for its market-leading product portfolio, unparalleled service offering, as well as its customer-focused technical sales capability. It has annual revenues of approximately AUD $170 million (USD $120 million) and will be integrated into Thermo Fisher’s Laboratory Products and Services 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 Annual Report on Form 10-K for the year ended December 31, 2008, 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: Vaughn Harring, 781-622-1242 vaughn.harring@thermofisher.com www.thermofisher.com or Investor Contact Information: Ken Apicerno, 781-622-1294 ken.apicerno@thermofisher.com
