The internet and IT technology boom has helped people bring innovation to various industries. Whether it is for defense, corporate, or healthcare, every other field is trying to get their hands-on advanced technologies to make things simpler for the employees of their industry as well as the end-user of their products. Thermo Fisher Scientific is one such company that has been working towards the advancement of the healthcare industry so to ease out things for the health workers and provide better options for its customers.
A Brief Introduction
Thermo Fisher Scientific is an American Laboratory equipment company, which is the result of a merger between Thermo Electron and Fisher Scientific, the former being a leading provider of instruments and analytical services and the latter one of the well-known biotechnology companies of America. The company works in the field of manufacturing scientific instrumentation, reagents, and supplying consumables. Other than that, the company also provides software services to healthcare, life science, and laboratories in academies, etc. The company also ships products to some of the government departments and other industries.
The Founding of Thermo Fisher Scientific
Though the company is a resultant company of a merger and was established in 2006, its history dates back to over a hundred years from now. George N. Hatsopoulos and Peter M Nomikos founded Thermo Electron (one of the merged companies) in 1956. The company started as the supplier of analytical and laboratory equipment. On the other hand, Fisher Scientific was founded by Chester G. Fisher in 1902. The company sold the laboratory equipment, chemicals, supplies as well as provided services in healthcare, scientific research, safety, and education.
After ruling their respective industries, in 2006, Thermo Electron and Fisher Scientific decided to merge and unify their operation. This way, the company became a single company. The merger was a stock-for-stock exchange tax-free partnership between the two companies. After combining their operations, the company had 30,000 employees, and the annual revenue for the two as one company was recorded to be US$9 billion.
Currently, Thermo Fisher Scientific is dealing in the products like Analytical/other equipment and instruments, laboratory reagents and consumables, science software, and services for research, discovery, analysis, and manufacturing. Though the companies have combined their operations, Thermo Fisher Scientific manufactures and supplies the products with brand names Thermo Scientific and Fisher Scientific. Other than these two, the company also ships products under the brand names like Chromacol, Nalgene, Cellomics, Pierce Protein Research, and Fermentas. Despite being a major dominant in the American market, Thermo Fisher Scientific has also expanded into Europe and some Asian countries, including China.
Acquisitions by the Company
Thermo Electron and Fisher Scientific already had about 15 companies acquired under their name before the merger. And after the merger, in just fifteen years, Thermo Fisher Scientific made approximately 50 acquisitions. The major acquisitions by Thermo Fisher Scientific include Phadia (2011), autoimmune (2011), Life Technologies Corporation (2013), Advanced Scientifics (2015), Alfa Aesar(2015), Affymetrix (2016), FEI Company (2016), Finesse Solutions, Inc. (2017), Patheon (2017), Brammer Bio (2019), Qiagen (2020), Henogen SA (2021) and PPD, Inc. (2021), etc.
Thermo Fisher Scientific Today
It hasn’t been long since Thermo Fisher Scientific started to work as an individual company. But despite that, it has reached new heights and has made its separate identity other than its parent companies. Today, it is counted among the Fortune 500 companies and has been making annual revenues of more than $20 billion. Today the company is serving worldwide, and over 70000 people are working for it. The company is public and trades on NYSE as TMO. The company headquarters is established in Waltham, Massachusetts, U.S., and has its various offices in different parts of the world.
The CEO at Thermo Fisher Scientific
Marc N. Casper is the CEO and the president at Thermo Fisher Scientific. He has been serving as the CEO of the company since 2009, and other than that, he is a member of the boards of trustees of Brigham & Women’s Hospital, Wesleyan University, as well as the board of U.S. Bancorp.
Casper completed his Bachelor’s degree in Economics from Wesleyan University and an MBA degree from Harvard Business School. In 1997, he became the president at Dade Behring. In the year 2000, he joined Kendro Laboratory Products as the CEO and the president of the company and worked for one year. Casper joined the Life Sciences sector of Thermo Electron in 2001 as the president.
Yashica is a Software Engineer turned Content Writer, who loves to write on social causes and expertise in writing technical stuff. She loves to watch movies and explore new places. She believes that you need to live once before you die. So experimenting with her life and career choices, she is trying to live her life to the fullest.