March 5, 2020—Thermo Fisher Scientific will acquire Qiagen, the companies announced on March 3.
The transaction values Qiagen at approximately $11.5 billion at current exchange rates, according to a joint press statement, which includes the assumption of approximately $1.4 billion of net debt.
The combined company will expand its specialty diagnostics portfolio with molecular diagnostics capabilities, including infectious disease testing. For life sciences researchers, Qiagen’s sample preparation, assay, and bioinformatics technologies are complementary to Thermo Fisher’s genetic analysis and biosciences capabilities. With an expanded portfolio, Thermo Fisher will be able to provide research customers, for example, with broader capabilities to accelerate discovery and enable scientific breakthroughs.
“We are excited to bring together our complementary offerings to advance our customers’ important work, from discovery to diagnostics,” Marc N. Casper, chairman, president, and chief executive officer of Thermo Fisher, said in a press statement. “This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging health care needs. For shareholders, we expect the transaction to be immediately accretive and to generate significant cost and revenue synergies.”
The transaction is expected to be completed in the first half of next year.