Thermo Fisher Scientific have announced their acquisition of ASI (Advanced Scientifics, Inc.) for a cash payment of $300 million USD as the company seeks to strengthen their bioproduction offerings.
ASI designs and manufactures custom single-use systems and equipment for the preparation, processing, storage, and transportation of biopharmaceuticals. ASI employs 380 people, with operations based in Pennsylvania and Mexico.
Full Press Release from Thermo Fisher Scientific:
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced it has acquired Advanced Scientifics, Inc. (ASI), a global provider of single-use technologies for customized bioprocessing solutions, for $300 million in cash.
ASI designs, manufactures and delivers customized single-use systems and equipment for the preparation, processing, storage and transportation of biopharmaceuticals. The company has 380 employees and operations in Pennsylvania and Mexico.
“ASI’s intense customer focus has led to the development of innovative solutions that complement our existing single-use technologies and expand our offering across the bioprocessing workflow,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We see this acquisition as a great opportunity to meet customer demand for quality and productivity in bioprocessing, and plan to leverage our global reach to bring these innovative products to a larger customer base.”
Advanced Scientifics had approximately $80 million in 2014 revenue and will be integrated into Thermo Fisher’s Life Sciences Solutions Segment. The company expects accretion to its adjusted earnings per share from the acquisition to be immaterial.
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