Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today completed its previously announced acquisition of the Advanced Bioprocessing business from BD (Becton, Dickinson and Company –NYSE: BDX), a leading global medical technology company, for $477 million in cash, subject to post-closing adjustments. The business will be integrated into Thermo Fisher’s Life Sciences Solutions Segment.
The Advanced Bioprocessing business has annualized revenue of approximately $100 million, with 160 employees at principal manufacturing locations in Detroit, Mich. and Miami, Fla.
“We are pleased to complete this acquisition and officially welcome our new colleagues from BD to Thermo Fisher,” said Mark Stevenson, executive vice president and chief operating officer of Thermo Fisher Scientific. “The addition of Advanced Bioprocessing’s complementary cell-culture media products and strong technical services program into our leading bioproduction portfolio will enable our biopharmaceutical customers to bring new and innovative drugs to market faster.”
The Advanced Bioprocessing acquisition is expected to add revenue of approximately $15 million in 2018, with no impact on adjusted earnings per share (EPS). For 2019, the company expects $0.04 to $0.05 of adjusted EPS accretion.