Thermo Fisher Scientific to acquire Lomb Scientific

Thermo Fisher Scientific has signed a definitive agreement to acquire Lomb Scientific, the company announced yesterday (November 30th).

Marc Casper, president and chief executive of the scientific equipment provider, said the transaction will help Thermo Fisher to expand its presence in developing Asia Pacific markets.

Lomb Scientific supplies laboratory chemicals and instruments to hospitals, universities and analytical laboratories in Australia and New Zealand.

"Through this acquisition, we would significantly strengthen our laboratory product offerings in the region, particularly chemicals used in life sciences, research and industrial applications," Mr Casper commented.

He said the transaction will also boost Thermo Fisher's capabilities in health sciences such as pathology.

Approximately 100 people are currently employed by Lomb Scientific, which posted full-year revenues of AU$34 million (21 million pounds) in 2009.

Thermo Fisher recently reported revenues of US$2.68 billion for the third quarter of 2010, representing a six percent increase on the corresponding period last year.