NEW YORK (GenomeWeb News) – Thermo Fisher Scientific has signed a deal to acquire Australian analytical instruments and life science consumables provider Biolab for A$175 million (US $120 million).
Biolab is a division of publicly traded Australian firm Alesco Corp. and has annual revenues of around A$170 million. Thermo Fisher said that it expects to close the transaction on April 30, and that it will integrate the company in to its Laboratory Products and Services Segment.
Marijn Dekkers, president and CEO of Thermo Fisher, said in a statement that the acquisition will significantly strengthen the firm's presence in the Australia, New Zealand, and South Pacific markets.
Among the products that Biolab distributes are chromatography, molecular spectroscopy, molecular imaging, and proteomic and genomic analytical instruments. It also sells diagnostic kits and sample preparation products, among its other offerings.
There had been ongoing speculation recently about a possible acquisition coming from Thermo Fisher. Two weeks ago, Leerink Swann analyst Isaac Ro said in a research note that possible targets could be in the areas of bioprocess tools, HPLC, or diagnostics.