Thermo Fisher to acquire Solventum’s Purification & Filtration business for US$4.1B

USA – Thermo Fisher Scientific Inc. has announced a definitive agreement to acquire Solventum’s Purification & Filtration business for approximately US$4.1 billion in cash. 

The transaction, expected to close by the end of 2025, is subject to regulatory approvals and customary closing conditions.

Expansion of bioproduction capabilities

Solventum’s Purification & Filtration business specializes in purification and filtration technologies used in the production of biologics, medical technologies, and industrial applications. 

The business operates globally across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region, employing approximately 2,500 professionals. In 2024, it generated around US$1 billion in revenue.

Thermo Fisher, a global leader in analytical instruments and laboratory solutions, expects the acquisition to complement its bioproduction portfolio, expanding its capabilities in both upstream and downstream biologics workflows. 

The acquired business will be integrated into Thermo Fisher’s Life Sciences Solutions segment upon completion of the deal.

Strategic rationale and financial outlook

The acquisition aligns with Thermo Fisher’s broader strategy to strengthen its bioprocessing solutions. 

“As the trusted partner to our customers, Solventum’s Purification & Filtration business will add differentiated capabilities to our bioprocessing portfolio, allowing us to better serve this rapidly growing market,” said Marc N. Casper, Chairman, President, and Chief Executive Officer of Thermo Fisher. 

“We look forward to welcoming our new colleagues.”

Thermo Fisher anticipates mid-to-high single-digit organic revenue growth from the acquisition. 

In the first year of ownership, the deal is projected to dilute adjusted earnings per share (EPS) by US$0.06. 

Excluding financing costs, the acquisition is expected to be accretive by US$0.28 per share in the same period. 

Over five years, Thermo Fisher estimates US$125 million in adjusted operating income through revenue and cost synergies.

Meanwhile, Solventum expects to receive approximately US$3.4 billion in net proceeds, primarily allocated to debt reduction.

Workforce adjustments

The acquisition comes amid industry shifts, with Thermo Fisher recently implementing workforce reductions at two of its U.S. viral vector manufacturing sites. 

In response to changing customer demand, the company announced layoffs affecting 300 employees at its Cambridge and Plainville, Massachusetts, facilities. 

The restructuring, disclosed through a Worker Adjustment and Retraining Notification (WARN), is set to take effect on March 30.

“In light of recent shifts in customer timelines and utilization needs, we are making strategic business adjustments, including headcount reductions at our Cambridge and Plainville sites,” a Thermo Fisher spokesperson stated. 

“Decisions affecting our colleagues and their families are never taken lightly, and we are committed to providing job transition support.”