Thermo Fisher Agrees to Sell Microbiology Business for $1.08 Billion

April 27, 2026

— Jeff Ward, Lehigh Valley News Briefs

Thermo Fisher Scientific has agreed to sell its microbiology business to Astorg, a European private-equity firm, for $1.075 billion.

The payment will be in cash and a $50 million note.

Thermo Fisher, which has operations in the Lehigh Valley, said the business is part of its Specialty Diagnostics division and generated $647 million in revenue in 2025.

Astorg has offices in London, Paris, Frankfurt, Milan, Luxembourg and New York. It says it manages 23 billion euros ($27 billion) in assets.

“We concentrate on deals where we can develop a competitive advantage – this can come from our in-depth knowledge of a sector or industry or our ability to deliver a complex transaction,” Astorg says on its website.

Thermo Fisher, a maker of medical devices and lab equipment based in Waltham, Massachusetts, expects the deal to be complete in the second half of 2026. The transaction will cut adjusted earnings per share by 15 cents in the first full year after it is complete.

Shares of Thermo Fisher (NYSE:TMO) traded at $470.00, up 38 cents in early trading. They remain well below their 52-week high of $643.99.

Thermo Fisher has a market capitalization of $176 billion.

Here’s a link to the company statement and below is a cut-and-paste version:

Thermo Fisher Scientific Signs Agreement to Sell its Microbiology Business to Astorg

04/27/2026

WALTHAM, Mass.–(BUSINESS WIRE)– Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that it has signed a definitive agreement to sell its microbiology business to Astorg, a leading pan-European private equity firm, forconsideration of approximately $1.075 billion, consisting of cash and a $50 million seller note.

The microbiology business provides antimicrobial susceptibility testing and culture media solutions for clinical, pharmaceutical and food safety testing. The business generated $645 million in revenue in 2025 and is part of Thermo Fisher’s Specialty Diagnostics segment.

“The transaction reflects our active management of the company and provides additional capital we can deploy to create shareholder value,” said Marc N. Casper, chairman and chief executive officer of Thermo Fisher. “We believe the microbiology business is an excellent fit within Astorg’s portfolio. We are confident in a smooth transition and wish the business and colleagues continued success after close under its new ownership.”

Thermo Fisher anticipates closing the transaction in the second half of 2026, subject to customary closing conditions and applicable regulatory approvals. The transaction is expected to be dilutive to adjusted earnings per share¹ by $0.15 in the first full year following the close. The company will provide details on the expected impact to its 2026 financial outlook during its second quarter earnings call.

1Adjusted earnings per share is a non-GAAP measure that excludes certain items detailed later in this press release under the heading “Use of Non-GAAP Financial Measures.”

Advisors
For Thermo Fisher, Cravath, Swaine & Moore LLP is serving as principal deal counsel, Axinn, Veltrop & Harkrider LLP as regulatory counsel, Hogan Lovells as ex-US counsel, and Perella Weinberg Partners and Wells Fargo as financial advisors. For Astorg, Evercore and Moelis are serving as financial advisors and Latham as legal counsel.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue over $45 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Gibco, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com.