Thermo Fisher Scientific

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Overview
Thermo Fisher Scientific is a large life sciences supply company that was created in 2006 by the merger of Thermo Electron and Fisher Scientific.

Predecessors and merger
Thermo Electron was founded in 1956 by George Hatsopoulos, an MIT PhD in mechanical engineering. It focused on providing analytical and laboratory products and services, and had revenues of over $2 billion in 2004.

Fisher Scientific was founded in 1902 by Chester G. Fisher. It focused on providing laboratory equipment, chemicals, supplies and services used in healthcare, scientific research, safety, and education.

On May 14, 2006, Thermo Electron and Fisher Scientific announced that they would merge in a tax-free, stock-for-stock exchange; the merged company was named Thermo Fisher Scientific. On November 9, 2006, the companies announced that the merger had been completed. However, the Federal Trade Commission ruled that this acquisition was anticompetitive with regard to centrifugal evaporators, requiring Fisher to divest Genevac. In April 2007, Genevac was sold to Riverlake Equity Partners LP and the merger closed with FTC approval.

Currently, the company's products are sold under the brand names of both Thermo Scientific and Fisher Scientific. According to company figures, 46% of its sales are in life sciences, 20% in healthcare, and 34% in industrial/environmental and safety.