Thermo Fisher pays $11.5B for molecular diagnostics company

March 3, 2020

Thermo Fisher Scientific and Qiagen, a global provider of molecular diagnostics and sample preparation technologies, announced that their boards of directors, as well as the managing board of Qiagen have unanimously approved Thermo Fisher's proposal to acquire Qiagen for €39 per share in cash. The offer price represents a premium of approximately 23% to the closing price of Qiagen's common stock on the Frankfurt Prime Standard on March 2, 2020. Thermo Fisher will commence a tender offer to acquire all of the ordinary shares of Qiagen.

The transaction values Qiagen at approximately $11.5 billion at current exchange rates, which includes the assumption of approximately $1.4 billion of net debt.

"We are excited to bring together our complementary offerings to advance our customers' important work, from discovery to diagnostics," said Marc Casper, chairman, president and CEO of Thermo Fisher. "This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs."

Qiagen is a provider of life science and molecular diagnostic solutions and employs approximately 5,100 people at 35 locations in more than 25 countries. The company generated 2019 revenue of $1.53 billion. Its sample preparation technologies are used to extract, isolate and purify DNA, RNA and proteins from a range of biological samples. The company's assay technologies are then used to amplify and enrich these biomolecules to make them readily accessible for analysis.

Read the full Thermo Fisher release

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