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Thermo Fisher Scientific Completes Acquisition of Mesa Biotech investingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investingnews.com Daily Mail and Mail on Sunday newspapers.
Industry News: Thermo Fisher Scientific to acquire point-of-care molecular diagnostics provider Mesa Biotech
The acquisition aims to meet continuing demand for COVID-related testing as well as develop point-of care tests for future infectious diseases
22 Jan 2021
Thermo Fisher Scientific Inc., a world leader in serving science, has announced it has entered into a definitive agreement to acquire Mesa Biotech, Inc., a privately held molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.
Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A. Mesa Biotech s patented technology expands the availability of gold standard
Thermo Fisher To Buy Molecular Diagnostics Company Mesa Biotech For About $450 Mln
WASHINGTON (dpa-AFX) - Thermo Fisher Scientific Inc. (TMO) said Tuesday it has agreed to acquire Mesa Biotech, Inc., a privately held molecular diagnostic company, for about $450 million in cash.
Under the terms of the deal, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.
Thermo Fisher expects the transaction to be completed in the first quarter of 2021. Upon completion, the business will become part of Thermo Fisher s Life Sciences Solutions Segment.
Mesa Biotech has developed and commercialized a PCR-based rapid point-of-care testing platform available for detecting infectious diseases including SARS-CoV-2, Influenza A and B, respiratory syncytial virus (RSV) and Strep A.
Thermo Fisher to Buy Mesa Biotech for $450 Million
Thermo will take over a company that has developed a rapid Covid test. The deal is expected to close this quarter.
Author:
Shares of Thermo Fisher Scientific (
TMO) - Get Report rose Tuesday after the medical/scientific equipment giant announced it’s buying Mesa Biotech, a privately-held molecular diagnostic company, for $450 million in cash.
Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction. Thermo expects the deal to close this quarter.
Thermo shares recently traded at $510.50, up 1.46%, and have jumped 48% over the last year through Friday.