This week, Thermo Fisher Scientific completed its $13.6 billion acquisition of Life Technologies. Life Technologies, which is based out of Carlsbad, California, specializes in the areas of applied sciences, scientific research, and genetic analysis and includes the brands Invitrogen, Applied Biosystems, Ion Torrent, Novex, Ambion, Gibco and Molecular Probes.
As a condition of the acquisition, the Federal Trade Commission mandated that Thermo Fisher sell its cell culture, genetic modulation and magnetic beads business. Thermo Fisher has up to 45 days after the acquisition of Life Technologies is complete to sell those divisions and has announced they will be sold to GE Healthcare.
With this acquisition, Thermo Fisher has revealed new business segments, Analytical Instruments, Laboratory Products and Services, Life Sciences Solutions and Specialty Diagnostics. Mark Stevenson, the former COO of Life Technologies, has been named an executive vice president and president of the Life Science Solutions business.
Thermo Fisher Scientific’s president and CEO, Marc Casper commented “We are pleased to announce that this transaction is now complete, and excited about our opportunity to create unrivaled leadership in serving research, life sciences, specialty diagnostics and applied markets. Our combined offering provides cutting-edge technologies, such as genomics and proteomics, to accelerate life sciences research and improve human health. And our complementary strengths in biosciences and bioprocessing will accelerate drug discovery, development and production. With the addition of Life Technologies, we are in an even stronger position to help our customers achieve their goals for innovation and productivity.”
So what does this mean for Life Technologies existing customers? In a letter on Life Technologies website, Mr. Casper states that all existing contracts will continue to be honored, the same products and services will still be available, and ordering processes will not change.MD Buyline will also continue to track these items through quote analysis.