HENNIGSDORF, Germany, September 3 /PRNewswire/ -- B-R-A-H-M-S, a leading diagnostics company, and Thermo Fisher Scientific, the world leader in serving science, join forces to establish a European Center of Excellence for clinical diagnostics with a focus on innovative biomarkers.
B-R-A-H-M-S announces the signature of a Share Purchase Agreement (SPA) with Thermo Fisher Scientific Inc. (NYSE: TMO) for 100% of the share capital of B-R-A-H-M-S Holding GmbH in the amount of EUR 330 million (approx. USD 470 million) including debt and other liabilities. The transaction, which is subject to applicable regulatory approvals, is expected to be closed in late September.
B-R-A-H-M-S will become part of Thermo Fisher Scientific's Specialty Diagnostics business, an approximately USD $1.3 billion business within Thermo Fisher Scientific's Analytical Technologies segment. B-R-A-H-M-S will form the core of Thermo Fisher Scientific's future European Center of Excellence for its clinical diagnostics businesses. The Center, located at B-R-A-H-M-S' current site in Hennigsdorf, Brandenburg, in the vicinity of Berlin, will leverage both companies' strengths and expertise in this field.
B-R-A-H-M-S is Germany's third largest biotech company and owns several hundred patents with a focus on innovative biomarkers. Thermo Fisher Scientific, a NYSE-listed company with revenues of USD $10.5 billion in 2008 and approximately 34,000 employees, offers an extensive worldwide product distribution network, specialty diagnostics testing and expertise, as well as substantial operational and financial strengths.
Marijn E. Dekkers, president and chief executive officer of Thermo Fisher Scientific, said, "B-R-A-H-M-S is a significant addition to our specialty diagnostics portfolio, bringing exciting new products and technologies to an area of our company that offers some of our greatest opportunities for growth. B-R-A-H-M-S' assays and instrumentation are a strong complement to our existing products for immunoassay testing, and its robust R&D pipeline creates promising opportunities to commercialize new patented diagnostic tests. In addition, the company gives us a significant reagent manufacturing footprint in Europe, while allowing us to leverage our deep customer access in the U.S. to market innovative new B-R-A-H-M-S products, such as PCT and others now in development. This acquisition reinforces our strategy of building on our leadership in niche specialty diagnostics markets."
Dr. Bernd Wegener, B-R-A-H-M-S' Chief Executive Officer, explains: "Since the management buy-out in 1994 B-R-A-H-M-S' founders and key executives have developed the company into Germany's third largest biotech company. Today B-R-A-H-M-S has an attractive product portfolio and a strong pipeline. Going forward, we were looking for a strategic partner with a complementary profile and global presence. Joining forces with Thermo Fisher Scientific was the logical next step for our enterprise. Together we will run the entire value chain from R&D through manufacturing to marketing, sales and distribution with access to the global markets."
Thermo Fisher Scientific has a proven track-record in integrating companies while safeguarding their entrepreneurial culture. This is reflected in its commitment to build on B-R-A-H-M-S' excellent foundation in biomarkers, clinical development and operations. As a result, the combination offers attractive opportunities for employees; they will benefit from broader personal development and international career perspectives. Senior B-R-A-H-M-S staff members have committed to continue building and expanding the business and assure a smooth business transition.
By establishing B-R-A-H-M-S' headquarters in Hennigsdorf as its European Center of Excellence for clinical diagnostics, Thermo Fisher Scientific plans to leverage the site to further expand its diagnostics business in Europe. This will provide substantial growth momentum for the community, creating additional high-tech jobs and eventually boosting Hennigsdorf's biotech cluster to European dimensions.
Since 2005 the private equity investor HBM BioVentures has provided strategic financing for B-R-A-H-M-S. HBM BioVentures has actively sought this strategic partnership. The present transaction is a milestone for B-R-A-H-M-S and a showcase for HBM BioVentures' successful investment management approach.
About B-R-A-H-M-S
The B-R-A-H-M-S Aktiengesellschaft conducts researches, develops, produces and markets innovative diagnostic biomarkers. It is one of the three largest biotechnology companies in Germany. The company sells its products in more than 65 countries via its own subsidiary companies and sales organizations as well as laboratory systems from its own production and globally operating licensees. The headquarter of B-R-A-H-M-S is at Hennigsdorf / Berlin, where about 220 out of 400 of the world wide employees of the company are posted. Visit http://www.brahms.de .
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science, enabling our customers to make the world healthier, cleaner and safer. With 2008 revenues of USD $10.5 billion, we have approximately 34,000 employees and serve over 350,000 customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as environmental and industrial process control settings. Serving customers through two premier brands, Thermo Scientific and Fisher Scientific, we help solve analytical challenges from routine testing to complex research and discovery. Thermo Scientific offers customers a complete range of high-end analytical instruments as well as laboratory equipment, software, services, consumables and reagents to enable integrated laboratory workflow solutions. Fisher Scientific provides a complete portfolio of laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety and education. Together, we offer the most convenient purchasing options to customers and continuously advance our technologies to accelerate the pace of scientific discovery, enhance value for customers and fuel growth for shareholders and employees alike. Visit http://www.thermofisher.com .
Contact:
B-R-A-H-M-S Aktiengesellschaft
Ingo Buchholzer
Public Relations Manager
Phone: +49(0)3302-883 -170
Email: changes@brahms.de
http://www.brahms.de
Contact: B-R-A-H-M-S Aktiengesellschaft, Ingo Buchholzer, Public Relations Manager, Phone: +49(0)3302-883 -170, Email: changes@brahms.de, http://www.brahms.de
