Thermo Fisher
"Lab instruments & life sciences."
The story
The origins of Thermo Fisher Scientific trace back to two distinct companies. Thermo Electron was co-founded in 1956 by George N. Hatsopoulos, an MIT mechanical engineering PhD, and Peter M Nomikos, a Harvard Business School graduate. Their venture focused on providing analytical and laboratory solutions. Meanwhile, Fisher Scientific was established earlier in 1902 by Chester G. Fisher in Pittsburgh, specializing in laboratory equipment, chemicals, supplies, and services for healthcare, research, safety, and education.
These two independent entities operated for decades, each carving out its niche in the scientific market. The transformative event that created the modern Thermo Fisher Scientific occurred on May 8, 2006, when Thermo Electron and Fisher Scientific announced their intent to merge. This strategic move aimed to combine their extensive offerings, creating a more comprehensive supplier in the life science and clinical research sectors.
The merger, completed on November 9, 2006, brought together approximately 30,000 employees and boasted a combined revenue of US$9 billion. This union laid the foundation for a global provisioner of scientific consumables, equipment, and services, offering a vast array of analytical instruments, clinical development solutions, specialty diagnostics, and laboratory services.
Challenges along the way
The path to becoming Thermo Fisher Scientific wasn't without hurdles. Following the announcement of their merger in 2006, the Federal Trade Commission (FTC) scrutinized the acquisition as anti-competitive, specifically concerning centrifugal evaporators. This forced Fisher Scientific to divest Genevac, a key part of its operations, before the merger could receive final FTC approval in April 2007. Later, during the COVID-19 pandemic, the company faced ethical questions regarding its sales of equipment to security services in China, potentially used in a genetic surveillance program targeting ethnic minorities in Xinjiang and Tibet, leading to criticism and subsequent ceasing of DNA collection kit sales in Tibet. Additionally, a lawsuit was filed by the estate of Henrietta Lacks in 2021 over the unauthorized commercial use of her HeLa cells, further highlighting significant ethical and legal challenges.
Major milestones
- 1902Chester G. Fisher founded Fisher Scientific in Pittsburgh.
- 1956George N. Hatsopoulos and Peter M Nomikos co-founded Thermo Electron.
- 2006Thermo Electron and Fisher Scientific announced their merger, forming Thermo Fisher Scientific.
- 2006United States PatentFig. 35Mass-spec and reagent filingsAssignee searchRead filing ↗
- 2013Acquired Life Technologies Corporation for $13.6 billion, expanding DNA sequencing and genetic testing services.
- 2016Acquired FEI Company for $4.2 billion, a manufacturer of electron microscopes.
- 2017Acquired Patheon, a contract development and manufacturing organization, for $7.2 billion.
- 2020Received emergency use authorization from the FDA for a SARS-CoV-2 test kit for COVID-19.
- 2021Acquired PPD, Inc., a contract research organization, for $17.4 billion in cash plus assumed debt.
Prototypes & people
Currently stocked
