Thermo Fisher Scientific Inc. announced that it entered into a definitive agreement to acquire CorEvitas, LLC from Audax Private Equity, for $912.5 million. The transaction is expected to be completed by the end of 2023.
CorEvitas, based in Waltham, Massachusetts, with operations focused in the United States, provides regulatory-grade, real-world evidence solutions to pharmaceutical and biotechnology companies with objective data and clinical insights to improve patient care and clinical outcomes.
CorEvitas manages 12 registries, including nine autoimmune and inflammatory syndicated registries. Its multi-therapeutic data intelligence platform builds and scales multiple clinical registries across specific therapeutic areas to gather structured patient clinical data spanning more than 400 investigator sites and more than 100,000 patients followed longitudinally. According to the press release, CorEvitas’ expected revenue for 2023 is $110 million.
Thermo Fisher provides analytical instruments, equipment, reagents, software and services for research, manufacturing, analysis, discovery and diagnostics worldwide. Based in Waltham, Massachusetts, Thermo Fisher was formed through the merger of Thermo Electron and Fisher Scientific in 2006. According to its FY 2022 financial report, Thermo Fisher’s FY 2022 revenue was $44.92 billion, a 15% increase from its FY 2021 revenue of $39.21 billion.
Upon completion, CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment. According to the press release, the transaction is expected to be immediately accretive to Thermo Fisher’s adjusted earnings per share by $0.03 in 2024. Financial terms of the deal were not disclosed.
According to data captured from the LevinPro HC database, this transaction marks the 145th eHealth acquisition of 2023, and the 24th in the analytics specialty. This also marks Thermo Fisher’s first deal of the year. During 2022, the company acquired PeproTech in January, followed by The Binding Site Group in October.
