Thermo Fisher Scientific agrees Advanced Scientifics takeover

Thermo Fisher Scientific has announced a new deal to acquire Advanced Scientifics for $300 million (196.99 million pounds) in cash.

The firm is a global provider of single-use technologies for customised bioprocessing solutions, designing, manufacturing and delivering systems and equipment for the preparation, processing, storage and transportation of biopharmaceuticals.

Maintaining operations in Pennsylvania and Mexico, the company employs 380 people and generated approximately $80 million in revenue during 2014. The takeover is expected to complement Thermo Fisher Scientific's existing operations in this field.

Once completed, Advanced Scientifics will become part of Thermo Fisher's life sciences solutions segment.

Marc Casper, president and chief executive officer of Thermo Fisher Scientific, said: "We see this acquisition as a great opportunity to meet customer demand for quality and productivity in bioprocessing, and plan to leverage our global reach to bring these innovative products to a larger customer base."

The company achieved year-on-year growth of 29 percent last year, thanks to the positive impact of its takeover of Life Technologies.