WALTHAM, Mass., Oct. 3 /PRNewswire-FirstCall/ -- Thermo Fisher
Scientific Inc. (NYSE: TMO) today announced that it has acquired Priority
Solutions International, a leading third-party logistics provider to the
pharmaceutical and healthcare industries, following anti-trust clearance.
Priority Solutions was previously majority-owned by Arsenal Capital
Partners. With revenues of approximately $95 million in 2006, Priority
Solutions offers a comprehensive range of services for the delivery of
FDA-regulated pharmaceuticals, including shipment of pharmaceutical
samples, direct-to-physician patient supplies, and pharmaceutical
warehousing and order fulfillment.
Priority Solutions will be integrated into Thermo Fisher's biopharma
services business, which includes the packaging and delivery of tightly
regulated pharmaceutical samples to patients participating in clinical
trials.
"The addition of Priority Solutions will make our biopharma services
business an even stronger partner for biotechnology and pharmaceutical
customers who are increasingly looking to outsource clinical trials
management," said Marijn E. Dekkers, president and chief executive officer
of Thermo Fisher Scientific. "This acquisition brings tremendous logistics
expertise and an infrastructure to our existing outsourcing services that
strengthens our ability to deliver pharmaceutical supplies to the right
people at the right time - anywhere in the world."
Based in Swedesboro, New Jersey, Priority Solutions' non-asset-based
logistics network extends to more than 500 cities worldwide. From order
entry to final delivery, Priority Solutions tracks, manages and reports
shipment status through call center specialists and a variety of Web-based
tools available to both vendors and clients. Throughout the process, each
step is fully documented to ensure end-to-end integrity of shipments in the
highly regulated pharmaceutical and healthcare industries.
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is the world leader in serving
science, enabling our customers to make the world healthier, cleaner and
safer. With an annual revenue rate of more than $9 billion, we employ
30,000 people and serve over 350,000 customers within pharmaceutical and
biotech companies, hospitals and clinical diagnostic labs, universities,
research institutions and government agencies, as well as environmental and
industrial process control settings. Serving customers through two premier
brands, Thermo Scientific and Fisher Scientific, we help solve analytical
challenges from routine testing to complex research and discovery. Thermo
Scientific offers customers a complete range of high-end analytical
instruments as well as laboratory equipment, software, services,
consumables and reagents to enable integrated laboratory workflow
solutions. Fisher Scientific provides a complete portfolio of laboratory
equipment, chemicals, supplies and services used in healthcare, scientific
research, safety and education. Together, we offer the most convenient
purchasing options to customers and continuously advance our technologies
to accelerate the pace of scientific discovery, enhance value for customers
and fuel growth for shareholders and employees alike. Visit
http://www.thermofisher.com.
The following constitutes a "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release contains
forward- looking statements that involve a number of risks and
uncertainties. Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements are set
forth in the Company's Quarterly Report on Form 10-Q for the quarter ended
June 30, 2007, under the caption "Risk Factors," which is on file with the
Securities and Exchange Commission and available in the "Investors" section
of our Website under the heading "SEC Filings." We also may make
forward-looking statements about the benefits of the merger of Thermo
Electron and Fisher Scientific, including statements about future financial
and operating results, the new company's plans, objectives, expectations
and intentions and other statements that are not historical facts.
Important factors that could cause actual results to differ materially from
those indicated by forward-looking statements include risks and
uncertainties relating to: the risk that the businesses will not be
integrated successfully; the risk that the cost savings and any other
synergies from the transaction may not be fully realized or may take longer
to realize than expected; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or suppliers;
competition and its effect on pricing, spending, third-party relationships
and revenues; the need to develop new products and adapt to significant
technological change; implementation of strategies for improving internal
growth; use and protection of intellectual property; dependence on
customers' capital spending policies and government funding policies;
realization of potential future savings from new productivity initiatives;
general worldwide economic conditions and related uncertainties; the effect
of changes in governmental regulations; the effect of exchange rate
fluctuations on international operations; the effect of laws and
regulations governing government contracts; the effect of competing with
certain of our customers and suppliers; and the effect of rapid changes in
the healthcare industry. While we may elect to update forward-looking
statements at some point in the future, we specifically disclaim any
obligation to do so, even if our estimates change and, therefore, you
should not rely on these forward-looking statements as representing our
views as of any date subsequent to today.
Media Contact Information:
Lori Gorski
Phone: 781-622-1242
E-mail: lori.gorski@thermofisher.com
Website: http://www.thermofisher.com
Investor Contact Information:
Ken Apicerno
Phone: 781-622-1111
E-mail: ken.apicerno@thermofisher.com
SOURCE Thermo Fisher Scientific Inc.
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Related links:
http://www.thermofisher.com
http://www.prnewswire.com/comp/877850.html/
CONTACT:
Media, Lori Gorski, +1-781-622-1242,
lori.gorski@thermofisher.com, or Investor, Ken Apicerno,
+1-781-622-1111, ken.apicerno@thermofisher.com, both of Thermo
Fisher Scientific Inc.
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