GE’s USD 1 billion Biotech Acquisitions from Thermo Fisher to Boost Discovery of New Drugs and Diagnostic Products
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By Doris Mendieta Posted on 02 Feb 2014 |
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Image: Thermo Fisher Scientific\'s HyClone line of cell culture media and sera will be integrated into GE Healthcare\'s life science division (Photo courtesy of Thermo Fisher Scientific).
GE Healthcare (Chalfont St. Giles, United Kingdom) is set to purchase Thermo Fisher Scientific's (Milford, MA, USA) HyClone line of cell culture media and sera, as well as Thermo Fisher's gene modulation and magnetic beads businesses. Cost of the transaction is estimated at approximately 1.06 billion USD.
Thermo Fisher’s well respected HyClone cell culture media and sera products will complement GE Healthcare’s established technologies for cell biology research and biopharmaceutical manufacturing, which will enable GE Healthcare to offer its customers a substantially wider range of technologies and services.
John Dineen, president and CEO of GE Healthcare said, “Life sciences is one of our strongest and fastest-growing business areas, driven by the world’s demand for improved diagnostics and new, safer medicines. Combining GE’s engineering expertise with our capabilities in life sciences is already bringing great benefits to industry, research, and patients. This deal makes a good business even better and will help us realize our vision of bringing better healthcare to more people at lower cost.”
Kieran Murphy, president and CEO of GE Healthcare’s life sciences division said, “We look forward to the HyClone cell culture and other businesses joining the GE family. They are a great fit with our key areas of focus, and bring exciting new technologies, enhanced manufacturing capabilities as well as a great group of talented people to help grow our business. In addition to providing us with new approaches to drug discovery and biomedical research, this acquisition is a significant step forward for our customers in biopharmaceutical manufacturing. They will benefit immediately from an expanded range of “start-to-finish” technologies that will help them improve product yields and reduce time-to-market. By expanding our production facilities to three continents, we will be able to offer the biopharmaceutical industry greater confidence in the security of supply of cell culture media and sera, a key part of their production process.”
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Thermo Fisher’s well respected HyClone cell culture media and sera products will complement GE Healthcare’s established technologies for cell biology research and biopharmaceutical manufacturing, which will enable GE Healthcare to offer its customers a substantially wider range of technologies and services.
John Dineen, president and CEO of GE Healthcare said, “Life sciences is one of our strongest and fastest-growing business areas, driven by the world’s demand for improved diagnostics and new, safer medicines. Combining GE’s engineering expertise with our capabilities in life sciences is already bringing great benefits to industry, research, and patients. This deal makes a good business even better and will help us realize our vision of bringing better healthcare to more people at lower cost.”
Kieran Murphy, president and CEO of GE Healthcare’s life sciences division said, “We look forward to the HyClone cell culture and other businesses joining the GE family. They are a great fit with our key areas of focus, and bring exciting new technologies, enhanced manufacturing capabilities as well as a great group of talented people to help grow our business. In addition to providing us with new approaches to drug discovery and biomedical research, this acquisition is a significant step forward for our customers in biopharmaceutical manufacturing. They will benefit immediately from an expanded range of “start-to-finish” technologies that will help them improve product yields and reduce time-to-market. By expanding our production facilities to three continents, we will be able to offer the biopharmaceutical industry greater confidence in the security of supply of cell culture media and sera, a key part of their production process.”
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