Thermo Fisher Adds Clario Holdings In A $9.4B Deal – Its Third Acquisition In 2025

• In addition to the upfront payment of $8.875 billion, Thermo Fisher has agreed to $125 million in January 2027 and up to $400 million of earn-out payments based on the performance of the business in 2026 and 2027. 
• The transaction is expected to be completed by the middle of 2026.
• Thermo Fisher expects the acquisition to be immediately accretive to its adjusted operating margin.
   

Thermo Fisher Scientific Inc. (TMO) said on Wednesday that it has entered into a definitive agreement to acquire data solutions provider Clario Holdings for $8.875 billion in cash at close in a bid to accelerate its data capabilities and advance clinical research.

In addition to the upfront payment, Thermo Fisher has agreed to $125 million in January 2027 and up to $400 million in earn-out payments based on the performance of the business in 2026 and 2027, bringing the total deal value to $9.4 billion.

Transaction Impact

The transaction is expected to be completed by the middle of 2026, subject to customary closing conditions and approvals from regulators. Upon closing of the deal, Clario will become part of Thermo Fisher’s Laboratory Products and Biopharma Services segment.

Thermo Fisher expects the acquisition to be immediately accretive to its adjusted operating margin. It also expects the deal to add $0.45 of adjusted earnings per share in the first year after closing.

For the full year 2025, Clario is expected to generate approximately $1.25 billion of revenue. Thermo Fisher added that Clario's business is expected to grow in the high single-digits under its ownership.

Clario’s clinical trial endpoint data can support faster, more confident trial decisions, Thermo Fisher noted. Clinical trial endpoint data refers to the specific outcomes or events that are measured to determine whether the treatment being studied is effective and safe, and is essential for regulatory approvals in addition to pipeline development.

Earlier this week, the Financial Times had reported that Thermo Fisher is nearing a takeover of Clario.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around TMO stock fell from ‘bullish’ to ‘bearish’ territory over the past 24 hours while message volume fell from ‘high’ to ‘low’ levels.

The latest acquisition marks Thermo Fisher’s third major acquisition this year, including the acquisition of Sanofi’s Ridgefield, New Jersey site to expand U.S. drug product manufacturing and the buyout of the purification and filtration business of Solventum (SOLV) for about $4 billion in cash.

TMO stock is up by 7% this year and by about 2% over the past 12 months. 

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