Thermo Fisher Scientific to acquire CorEvitas for $912 million

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Thermo Fisher Scientific to acquire CorEvitas for $912 million

July 6 (Reuters) – Thermo Fisher Scientific Inc (TMO.N) said on Thursday it would acquire data intelligence company CorEvitas from Audax Private Equity for $912.5 million in cash.

Massachusetts-based CorEvitas is a provider of data and analytics to pharmaceutical and biotech companies and expects revenue of $110 million in 2023.

The transaction is expected to boost adjusted earnings per share by 3 cents in 2024, according to Thermo Fisher.

The deal is expected to close by the end of this year. Upon completion, CorEvitas would become part of Thermo Fisher’s laboratory products and biopharma services segment.

Reporting by Sriparna Roy in Bengaluru; Editing by Shilpi Majumdar
 
Source: Reuters