Thermo Fisher Completes Acquisition of UK’s Binding Site
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By LabMedica International staff writers Posted on 04 Jan 2023 |
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Image: Thermo Fisher Scientific has completed the acquisition of The Binding Site (Photo courtesy of Thermo Fisher Scientific)
Thermo Fisher Scientific Inc. (Waltham, MA; USA) has completed its acquisition of The Binding Site Group (Birmingham, UK) in an all-cash transaction valued at GBP 2.3 billion, or USD 2.8 billion at current exchange rates. Thermo Fisher had announced the agreement to acquire The Binding Site on October 31, 2022.
Serving clinicians and laboratory professionals worldwide, The Binding Site provides specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. The Binding Site’s Freelite offering is widely recommended for multiple myeloma diagnosis and monitoring across all stages of the disease by major clinical guideline publications. The Binding Site has more than 1,200 employees globally and will become part of Thermo Fisher's Specialty Diagnostics segment.
“We are very excited to welcome The Binding Site colleagues to Thermo Fisher Scientific,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. “The Binding Site expands our existing specialty diagnostics portfolio with the addition of pioneering innovation in diagnostics and monitoring for multiple myeloma. Early diagnosis and well-informed treatment decisions can make a significant difference in patient outcomes, and we are excited by the opportunity to enable further advancements in this area for the benefit of patients.”
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