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Fisher Scientific and Apogent Technologies (incl. Remel) Combine in $3.7 Billion Transaction

Following on from its recent acquisition of the Oxoid Group, Fisher Scientific International Inc. continues its expansion by merging with Apogent Technologies Inc. This strategic combination enhances Fisher's proprietary-product portfolio and provides the company with a $1.1 billion share of the high-growth life-science market.

The combination of Apogent's Remel business and the Oxoid acquisition, creates a $275 million microbiology business unit.

As a result of the transaction, Fisher Scientific will benefit from substantially increased cash flow and the financial flexibility to pursue additional growth opportunities. Through combined product-development efforts, an enhanced global presence and strengthened service capabilities, Fisher will be uniquely positioned to provide its customers with innovative products and services.

Apogent has manufacturing operations throughout the world that will complement and enhance Fisher's existing worldwide distribution and supply network. In addition, the deal more than doubles Fisher's team of technically trained sales specialists.

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Source : Fisher Scientific View Company Information

Posted on March 22, 2004