November 2022—Thermo Fisher Scientific announced it has entered into a definitive agreement to acquire the Binding Site Group from a shareholder group led by European private equity firm Nordic Capital. The all-cash transaction is valued at approximately $2.6 billion at current exchange rates, Thermo Fisher reported in a press release.
The Binding Site provides specialty diagnostic assays and instruments aimed at improving the diagnosis and management of blood cancers and immune system disorders. The company’s Freelite assays aid in detecting and monitoring multiple myeloma and related diseases.
“This transaction perfectly aligns with our mission and is an exciting addition to our existing specialty diagnostic offerings,” Marc N. Casper, chairman, president, and CEO of Thermo Fisher, said in the release. “The Binding Site is extremely well respected by researchers and clinicians alike for its pioneering diagnosis and monitoring solutions for multiple myeloma.”
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to be completed in the first half of next year. Upon completion of the transaction, the Binding Site, which is headquartered in Birmingham, U.K., and employs more than 1,100 people worldwide, will become a part of Thermo Fisher’s specialty diagnostics segment.
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