Acquisition drives sales growth for Thermo Fisher

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  • Published: Jan 30, 2015
  • Author: Jon Evans
  • Source: Thermo Fisher Scientific
  • Suppliers: Thermo Fisher Scientific
  • Channels: Ion Chromatography / Laboratory Informatics / Proteomics & Genomics / Electrophoresis / Gas Chromatography / HPLC / Sample Preparation / Detectors / NMR Knowledge Base / Atomic / Chemometrics & Informatics / X-ray Spectrometry / Proteomics / MRI Spectroscopy / Infrared Spectroscopy / Base Peak / UV/Vis Spectroscopy / Raman

Thermo Fisher Scientific achieved strong growth in sales and profits in 2014, with its global revenue growing by 29% to $16.89 billion and its operating income growing by almost 15% to $2.5 billion.

Much of this growth was driven by its acquisition of Life Technologies for $13.6 billion, which completed in February 2014 (see Thermo Fisher completes Life Technologies purchase). Thermo Fisher combined Life Technologies with its existing Biosciences businesses to form a new business segment called Life Sciences Solutions, which generated revenue of $4.2 billion in 2014, compared with revenue of $712 million for the Biosciences businesses on their own in 2013.

Nevertheless, all of Thermo Fishers’ main business segments achieved revenue growth in 2014. The Analytical Instruments segment saw its revenue grow by 3% to $3.25 billion; the Specialty Diagnostics segment saw growth of 5% to $3.34 billion; and the Laboratory Products and Services segment saw growth of 3% to $6.6 billion.

‘Looking back on 2014, we successfully executed our growth strategy to deliver very strong financial performance while investing to set the company up for a bright future,’ commented Marc Casper, president and chief executive officer of Thermo Fisher Scientific. ‘It was a terrific year for innovation, with significant product launches across our specialty diagnostics, analytical instruments and life sciences businesses. In addition, our successful integration of Life Technologies has strengthened our customer value proposition and positions us to begin achieving revenue synergies in 2015.’

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