$11.5 billion! Thermofi acquires gene testing giant Qiagen

On March 3, scientific services company Thermo Seiol Technologies (hereinafter referred to as "Thermofly") and QIAGEN NV, a Supplier of Diagnostic and Sample Preparation Technology in the Netherlands, announced that their boards had unanimously approved the proposal to buy QIAGEN for 10.4 billion euros ($11.59 billion) in cash, or 39 euros per shareThe deal is expected to close in the first half of 2021
It is understood that Qiagen's main business in Germany, but headquartered in neighbouring Netherlands, is one of the suppliers of tissue and blood sample preparation testing productsThese genetic tests play an important role in the research and treatment of cancer, infectious diseases and genetic diseasesIn addition, QIAGEN provides automated instruments and bioinformatics systems for related workflowsIt currently employs about 5,100 people in 25 countries and territories and generates revenues of EUR 1.53 billion in 2019
The deal is another step in Thermo's acquisition of Life Technologies in 2014 for $13.6 billionThermofly is known as the world's largest manufacturer of scientific instruments, with revenues of $25.54 billion for the full year of 2019As early as 2018, China's revenue was $2.504 billion, or 10.3 percent of total revenueBut that 10 per cent share alone is already 6.1 times that of China's top-ranked company
The main advantage of the deal, MrSymerfei said, is that it complements Its existing portfolio of specialized diagnostics with molecular diagnostic capabilities, including infectious disease detection
Throughout, Thermofly has been a leader in the professional diagnostic capabilities of allergies, autoimmune, transplant diagnosis and clinical oncology testing, while QIAGEN has a strong focus on infectious diseases in the field of molecular diagnosticsThe combination of the two will accelerate the development of higher-specific, faster, and more-specific testing to help improve patient outcomes and reduce care costs
In fact, since the 13th Five-Year Plan, China's life science industry is in a high-speed development stageIn vitro diagnosis, which has great potential for development in the medical device industry, has also been recognized as the cornerstone of precision medicine Domestic in vitro diagnostic enterprises in active innovation at the same time can consider co-operation with foreign enterprises Such as Thermofei's attention to the Chinese market and investment, as well as its buy-to-let mergers and acquisitions is worth learning from
It is reported that in 2019 Thermofly has performed strongly in key regions, especially in China, achieving a high growth rate of 13%, with innovative initiatives including expanding its clinical trial business in China, opening a new Pharmaceutical and Biotechnology Customer Solutions Center in Shanghai, and promoting the work of Chinese users in life sciences, biopharmaceuticals and food safety applications
In 2020, Thermofly expects revenue of between $26.61 billion and $27.01 billion, up 4 to 6 percent from 2019 The adjusted EPS forecast is $13.49 to $13.67, up 9 to 11 percent from 2019 (excluding outbreak impact)