Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, is to acquire CorEvitas, LLC, a Waltham, Massachusetts-based provider of regulatory-grade, real-world evidence for approved medical treatments and therapies, from Audax Private Equity, for $912.5 million in cash.
The transaction, which is expected to be completed by the end of 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, CorEvitas will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment.
Led by Raymond H. Hill, chairman and chief executive officer, CorEvitas 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. The company 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 over 100,000 patients followed longitudinally.
CorEvitas has been a partner to pharma and biotech customers for more than 20 years. With approximately 300 employees, the company is positioned to grow its revenue organically in the low double digits, with expected revenue of $110m in 2023.
Led by Marc N. Casper, chairman, president and chief executive officer, Thermo Fisher has a global team that delivers a combination of innovative technologies, purchasing convenience and pharmaceutical services through brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. Thermo Fisher Scientific has annual revenue over $40 billion.
FinSMEs
07/07/2023