Thermo Fisher Scientific has reached a definitive agreement to acquire clinical trial endpoint data solutions provider Clario Holdings for $8.875bn in cash upon completion of the deal.
Clario will be acquired from a shareholder group spearheaded by Astorg and Nordic Capital, along with Cinven and Novo Holding.
Clario is known for integrating endpoint data of the trial from various sources, including clinical sites, subjects, and devices.
This integration facilitates biotech and pharmaceutical companies in digitally collecting and analysing clinical evidence throughout all stages of development of the drug, aiding in decision-making processes of the trial.
Clario's suite of solutions encompasses electronic clinical outcome assessments (eCOA), cardiac and respiratory assessments, medical imaging, and wearable data capture technologies.
The acquisition is said to enhance Thermo Fisher's clinical research services by integrating Clario's platform, which is complementary to the former’s current offerings.
Furthermore, it is expected to bolster the data and digital capabilities of Thermo Fisher, including the application of AI to expedite clinical research, improve data-driven insights throughout the drug development process.
By the fifth year after the transaction's completion, Thermo Fisher anticipates to deliver nearly $175m in adjusted operating income from synergies, mainly due to the combined offerings of the two entities.
In addition to the cash payment at the time of closing, the company has committed to a $125m payment in January 2027 and up to $400m in earn-out payments based on Clario's business performance in 2026 and 2027.
The completion of the acquisition is anticipated by mid-2026, pending the satisfaction of customary closing conditions and regulatory approvals.
Thermo Fisher plans to finance the acquisition through debt financing and its available cash reserves.
Following the closure of the deal, Clario will be incorporated into the Laboratory Products and Biopharma Services segment of Thermo Fisher.
WilmerHale is acting as Thermo Fisher’s principal deal counsel, with Axinn and Freshfields providing regulatory counsel.
Clario's lead financial adviser is Evercore, with deal counsel being Latham & Watkins.
Thermo Fisher Scientific CEO, president and chairman Marc Casper said: “We’ve long admired Clario and this acquisition underscores our disciplined capital deployment strategy, which has an outstanding track record of creating shareholder value.”
Recently, Thermo Fisher's PPD business unveiled the Clinical Trial Carbon Calculator, a tool designed to help research sponsors and biopharmaceutical companies assess and mitigate the environmental impact of their trials.
