Headquartered in Waltham, MA, Thermo Fisher Scientific is a scientific instrument maker and a world leader in serving science. In Nov 2006, Thermo Fisher Scientific, Inc. was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. On Feb 3, 2014, Thermo Fisher acquired Life Technologies Corporation.
Following the acquisition, the new reporting segments are:
Life Sciences Solutions Segment: This segment (26.6% of total revenues in 2022) was added post the acquisition of Life Technologies. It incorporates majority of the former Life Technologies and Thermo Fisher’s Biosciences businesses. In 2022, this business registered fall of 26.6% from 2021.
Analytical Instruments: Formerly known as Analytical Technology, this segment (16.4%) has been renamed in order to reflect the transfer of the bioprocess production business to the newly formed Life Sciences Solutions Segment. In 2022, this business registered growth of 8.9% from 2021.
Specialty Diagnostics (SD): This segment (9.7%), formed after the acquisition of Phadia, serves customers in healthcare and clinical laboratories with a portfolio of diagnostic test kits, reagents and instruments used to increase the speed and accuracy of diagnoses to improve patient care. In 2022, this business registered growth of 22.9% from 2021.
Laboratory Products and Biopharma Services: Formerly known as Laboratory Products and Services, this segment (51.9%) has been renamed to to reflect the inclusion of the PPD acquisition. PPD will be referred to as clinical research business within this segment. This segment serves laboratory customers with equipment and consumables that improve productivity and a range of BioPharma outsourcing services. This segment also includes the company’s research and safety market customer channels. Post-acquisition, Thermo Fisher’s Global Chemicals business has moved to the Laboratory Products and and Services Segment. In 2022, this business registered growth of 41.8% from 2021.