Key Moments
- Thermo Fisher Scientific agreed to sell its microbiology business to private equity firm Astorg for about $1.08 billion.
- The divested unit generated $645 million in revenue in 2025 as part of Thermo Fisher’s specialty diagnostics segment.
- The company expects the sale to close in the second half of 2026 and to dilute adjusted EPS by $0.15 in the first full year after completion.
Transaction Overview
Medical equipment manufacturer Thermo Fisher Scientific announced on Monday that it has entered into an agreement to divest its microbiology business to private equity firm Astorg in a transaction valued at approximately $1.08 billion.
The consideration for the deal will comprise a combination of cash and a $50 million seller note, according to the company.
Business Profile of the Divested Unit
The microbiology business being sold provides antimicrobial susceptibility testing and culture media products. These offerings are used in clinical, pharmaceutical, and food safety applications.
The unit operates within Thermo Fisher’s specialty diagnostics segment and recorded revenue of $645 million in 2025.
| Item | Detail |
|---|---|
| Buyer | Astorg (private equity firm) |
| Seller | Thermo Fisher Scientific |
| Transaction Value | About $1.08 billion |
| Seller Note Component | $50 million |
| Business Sold | Microbiology unit within specialty diagnostics |
| 2025 Revenue of Unit | $645 million |
| Expected Closing | Second half of 2026 |
| Expected EPS Impact | Dilutive to adjusted EPS by $0.15 in first full year post-close |
Strategic Rationale and Management Commentary
Thermo Fisher positioned the divestiture as part of its broader portfolio management strategy. Marc Casper, chief executive officer of Thermo Fisher, said, “The transaction reflects our active management of the company and provides additional capital we can deploy to create shareholder value.”
Financial Impact and Outlook
The company anticipates that the sale will be dilutive to adjusted earnings per share by $0.15 in the first full year following the closing of the transaction.
Thermo Fisher plans to outline the expected implications of the transaction for its 2026 forecast during its second quarter earnings call.
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