Thermo Fisher Scientific has entered into a definitive agreement to acquire Solventum's Purification & Filtration business.
The company will purchase the division for $4.1bn in cash, and will utilise Solventum's range of biologic purification and filtration technologies to expand its offerings in the bioproduction space.
Solventum's Purification & Filtration business currently operates across the world, with sites across the key North and South American markets, as well as the Middle East, Africa and the Asia-Pacific regions.
It is estimated that the business offshoot generated around $1bn in revenue last year.
The acquisition will add to Thermo Fisher's current portfolio, which includes offerings in cell culture media and single-use technologies.
By acquiring Solventum's filtration portfolio, Thermo Fisher will be better equipped to assist its clients in the development and manufacture of biologics across up and downstream workflows.
“As the trusted partner to our customers, Solventum’s Purification & Filtration business will expand and add differentiated capabilities to our bioprocessing portfolio to better serve our customers in this rapidly growing market," Chair, President and CEO of Thermo Fisher, Marc N. Casper commented.
The transaction is expected to be completed by the end of 2025 and is subject to customary closing conditions and regulatory approvals.
Once the transaction closes, Solventum’s Purification & Filtration business will become part of Thermo Fisher's Life Sciences Solutions segment.