Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced it has entered into an agreement to acquire Biolab, the leading provider of analytical instruments, life science consumables and laboratory equipment for scientific, environmental and healthcare markets in Australia and New Zealand, for AUD $175 million (approximately USD $120 million).
The transaction is expected to be completed on April 30, 2009. Biolab is the Scientific and Medical Division of Alesco Corporation Limited (ASX: ALS).
"As the premier commercial channel in Australia, New Zealand and the South Pacific, Biolab offers a broad portfolio of products and services to support Thermo Fisher's continued growth in the region," said Marijn E. Dekkers, president and chief executive officer of Thermo Fisher Scientific. "This acquisition significantly strengthens our presence in these markets, and will enable us to better serve customers in both public and private sectors through an expanded range of offerings."
During its nearly 150-year history, Biolab has become highly regarded for its market-leading product portfolio, unparalleled service offering, as well as its customer-focused technical sales capability. It has annual revenues of approximately AUD $170 million (USD $120 million) and will be integrated into Thermo Fisher's Laboratory Products and Services Segment.
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