Thermo Fisher acquires Solventum's cleaning unit for 4.1 billion US dollars
Thermo Fisher Scientific Inc. (NYSE: TMO), a global leader in serving science, has announced a definitive agreement to acquire the Purification & Filtration business of Solventum (NYSE: SOLV) for $4.1 billion in cash. This strategic move is expected to expand Thermo Fisher's biomanufacturing capabilities and strengthen its presence in the fast-growing bioprocessing market.
Solventum's Purification & Filtration business, which generated approximately $1 billion in sales in 2024, is known for its purification and filtration technologies. These technologies are essential for the production of biologics, medical devices and various industrial applications. The company employs around 2,500 people in several regions, including the Americas, Europe, Middle East, Africa and Asia-Pacific.
The transaction is expected to close by the end of 2025, subject to customary closing conditions and regulatory approvals. Thermo Fisher forecasts that the acquisition will be initially dilutive to adjusted earnings per share (EPS) by $0.06, excluding financing costs, but accretive to earnings by $0.28 in the first year following the acquisition. The company expects to realize approximately $125 million in adjusted operating income from revenue and cost synergies by the fifth year after closing. According to InvestingPro analysis, Solventum currently trades at an EV/EBITDA multiple of 11.15x, with analysts maintaining price targets between $63 and $82 per share.
