Thermo Fisher Scientific - Predecessors and Merger

Predecessors and Merger

Thermo Electron was founded in 1956 by George Hatsopoulos, an MIT PhD in mechanical engineering. It focused on providing analytical and laboratory products and services, and had revenues of over $2 billion in 2004.

Fisher Scientific was founded in 1902 by Chester G. Fisher. It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.

On May 14, 2006, Thermo Electron and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange; the merged company was named Thermo Fisher Scientific. On November 9, 2006, the companies announced that the merger had been completed. However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac. In April 2007, Genevac was sold to Riverlake Partners LLC and the merger closed with FTC approval.

Currently, the company's products are sold under the brand names of Thermo Scientific, Fisher Scientific, and several other recognized brand names (e.g.Chromacol, Nalgene, Cellomics, Cole-Parmer, Pierce Protein Research and Fermentas). According to company figures, 46% of its sales are in life sciences, 20% in healthcare, and 34% in industrial/environmental and safety.

Thermo Fisher has offices and operations in many countries, notably the U.S. and in Europe.

In May 2011, Thermo Fisher Scientific Inc. bought Phadia to expand in testing for allergies and autoimmune diseases for €2.47 billion ($3.5 billion) in cash purchase.

In April 2013, Thermo Fisher announced it would be buying Life Technologies Corp for $13.6 billion in a deal that would rank the firm as one of the top two companies in the genetic testing field.