Thermo Fisher Scientific Signs Agreement to Acquire High-Performance PCR Solution Provider, Finnzymes

WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, announced today that it has signed a definitive agreement to acquire Finnzymes, a well-recognized provider of integrated tools for molecular biology analysis, including reagents, instruments, consumables and kits. Headquartered in Espoo, Finland, Finnzymes has 90 employees and generated revenue of $20 million in 2009.

“This combination brings together key complementary technologies for molecular biology and diagnostics, allowing us to create significant value for our customers.”

Finnzymes provides comprehensive solutions for high-performance polymerase chain reaction (PCR), reverse transcription-PCR (RT-PCR) and real-time quantitative PCR (qPCR). The company’s expertise in DNA polymerases has led to significant increases in the performance of these enzymes, making the PCR process faster and more accurate. The ability to quickly and reproducibly amplify and quantify particular DNA sequences benefits a variety of applications, including basic genomic research, genetic testing, forensics and food testing.

The acquisition of Finnzymes expands Thermo Fisher’s portfolio of reagents and other consumables for the molecular biology research and diagnostics markets through the addition of its proprietary DNA polymerases, Phire™ and Phusion™, and high-speed miniaturized thermal cyclers and innovative plastic tubes and plates. These products complement the recently launched Thermo Scientific Solaris qPCR gene expression assays and, together, deliver a more complete solution for customers. Combining the gene-specific MGB^®-based probes from Thermo Scientific with the advanced enzyme performance from Finnzymes will further enhance qPCR assay technology.

“The addition of Finnzymes’ innovative enzyme portfolio and unique PCR instrument platform strengthens our broad range of life science reagents and consumables, as well as our specialty diagnostics product offering,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “This combination brings together key complementary technologies for molecular biology and diagnostics, allowing us to create significant value for our customers.”

Finnzymes will be integrated primarily into Thermo Fisher Scientific’s Analytical Technologies Segment, with some equipment and consumables product lines being added to the Laboratory Products and Services Segment. The transaction is expected to close during the first quarter of 2010. The company does not expect this transaction to have a material impact on its 2010 financial results.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With 2008 revenues of $10.5 billion, we have approximately 35,000 employees and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike. Visit www.thermofisher.com.

The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in the company’s Quarterly Report on Form 10-Q for the period ended September 26, 2009, under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission and available in the “Investors” section of our Website under the heading “SEC Filings.” Important factors that could cause actual results to differ materially from those indicated by forward-looking statements include risks and uncertainties relating to: competition and its effect on pricing, spending, third-party relationships and revenues; the need to develop new products and adapt to significant technological change; implementation of strategies for improving internal growth; general worldwide economic conditions and related uncertainties; dependence on customers’ capital spending policies and government funding policies; the effect of exchange rate fluctuations on international operations; use and protection of intellectual property; the effect of changes in governmental regulations; the effect of laws and regulations governing government contracts; the effect of competing with certain of our customers and suppliers; and the effect of rapid changes in the healthcare industry. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our estimates change and, therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today.