Thermo Fisher Buying Qiagen in $10B Deal

The combined company hopes to develop faster, more comprehensive diagnostic tests.

Thermo Fisher Scientific Inc., Waltham, Mass., April 26, 2007.
Thermo Fisher Scientific Inc., Waltham, Mass., April 26, 2007.
AP Photo/Stephan Savoia, File

Thermo Fisher Scientific Inc., a maker of scientific instrument and laboratory supplies, is buying Qiagen in a deal valued at about $10.1 billion.

Qiagen NV is a provider of molecular diagnostics and sample preparation technologies. The Netherlands-based company has approximately 5,100 workers at 35 locations in more than 25 countries. It generated 2019 revenue of $1.53 billion.

Thermo Fisher posted revenue of more than $25 billion last year. The Waltham, Massachusetts-based company is offering 39 euros ($43.33) in cash for each Qiagen share, a premium of about 23% to its closing price Monday.

The combined company will work on speeding up the development of higher-specificity, faster and more comprehensive tests that may improve patient outcomes and reduce the cost of care.

The transaction also includes approximately $1.4 billion in debt.

The deal is expected to close in the first half of 2021.

Qiagen's stock surged 16%, while shares of Thermo Fisher rose nearly 5% in Tuesday premarket trading.

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