Thermo Fisher has agreed to buy Dutch diagnostics group Qiagen in a $11.5b deal, as the US scientific equipment maker expands its disease-testing capabilities amid the worsening coronavirus outbreak.
According to The Financial Times, the group, which has a market capitalisation of around $122bn and provides diagnostic tools, said buying the Dutch company would allow it to strengthen its portfolio, notably in testing for infectious diseases.
Qiagen is developing kits to test for Covid-19, which has infected more than 90,000 people globally and killed more than 3,000.
It previously provided testing equipment that was used during the Sars and swine flu outbreaks. Thermo Fisher had been reported to have had an interest in Qiagen before the coronavirus outbreak erupted.
In November, Qiagen, whose shares are listed in Frankfurt and New York, launched a strategic review to consider bids from various suitors before later saying it planned to go it alone.
“This acquisition provides us with the opportunity to leverage our industry-leading capabilities and R&D expertise to accelerate innovation and address emerging healthcare needs,” said Marc Casper, Thermo Fisher president and chief executive.
Qiagen has been working on equipment to detect Covid-19 since the outbreak began in January. Last week it said it had sent test kits to four hospitals in China for evaluation and plans to apply for emergency authorization to sell them in the US, Korea and China.
The kits, which provide test results in about an hour, are expanded versions of the company’s “QIAstat-Dx Respiratory Panel”, which is used to test for various other respiratory syndromes.
