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Mar 20th, 2023
Thermo Fisher Scientific has announced details of a new business division following its $13.6bn acquisition of Life Technologies Corporation earlier in January.
Thermo, the world’s largest laboratory equipment maker, will incorporate Life Technologies into Life Sciences Solutions along with its existing Biosciences businesses.
As part of the changes, the company’s financial performance will be reported by way of four core segments.
These include:
1. The Life Sciences Solutions segment which is made up of the majority of the former Life Technologies and Thermo Fisher Biosciences businesses
2. Thermo Fisher’s Global Chemicals business which is set to migrate from the Biosciences brand to to the Laboratory Products and Services Segment
3. Thermo Fisher’s Analytical Technologies Segment which will be renamed Analytical Instruments
4. And, within Life Technologies, two smaller diagnostics businesses which will merge into the Specialty Diagnostics Segment
Mark Stevenson, who formerly served as chief operating officer of Life Technologies, has been named executive vice president of the division.
