NEW YORK (GenomeWeb) – Thermo Fisher Scientific today announced it has acquired Advanced Scientifics for $300 million in cash.
Millersburg, Pa.-based Advanced Scientifics designs and manufactures customized single-use systems and equipment for the preparation, processing, storage, and transportation of biopharmaceuticals. The company has 380 employees with operations in Pennsylvania and Mexico.
"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," Thermo Fisher CEO Marc Casper said in a statement. He added that Advanced Scientifics' products complement Thermo Fisher's existing single-use technologies and expand its product offerings for bioprocessing workflows.
Advanced Scientifics had approximately $80 million in revenue in fiscal year 2014 and will be integrated into Thermo Fisher's Life Sciences Solutions segment. Thermo Fisher said it did not expect the acquisition to significantly improve its adjusted earnings per share.