Thermo Fisher Scientific (NYSE:TMO) announced today that it entered into a definitive agreement to acquire The Binding Site Group.
The Binding Site develops specialty diagnostic assays and instruments. It designs its technology to improve the diagnosis and management of blood cancers and immune system disorders. The Binding Site’s Freelite offering aids in multiple myeloma diagnosis and monitoring.
Waltham, Massachusetts-based Thermo Fisher agreed to acquire The Binding Site from a shareholder group led by European private equity firm Nordic Capital. It values the all-cash transaction at $2.6 billion (£2.25 billion).
Birmingham, U.K.–based The Binding Site has a workforce of more than 1,100 around the globe. It remains on track to deliver more than $220 million in revenue in 2022.
‘An exciting addition’“This transaction perfectly aligns with our mission and is an exciting addition to our existing specialty diagnostic offerings. …