Sector News

Thermo Fisher agrees to acquire CorEvitas for $913m

July 7, 2023
Life sciences

Thermo Fisher Scientific has signed a definitive agreement for the acquisition of US-based data intelligence company CorEvitas from Audax Private Equity in a deal totalling $912.5m in cash.

CorEvitas offers regulatory-level, real-world data solutions comprising objective findings and clinical insights to enhance clinical results and patient care.

The multi-therapeutic data intelligence platform of CorEvitas delivers 12 clinical registries for autoimmune and inflammatory ailments, of which nine are syndicated.

The company collects structured clinical data spanning over 400 investigator sites and more than 100,000 longitudinally tracked individuals.

The deal is expected to conclude by the end of 2023. CorEvitas will join the laboratory products and biopharma services division of Thermo Fisher.

Thermo Fisher Scientific chairman, president and CEO Marc Casper stated: “The addition of CorEvitas will further advance our capabilities to better serve our pharma and biotech customers and strengthen our value proposition.

“CorEvitas is an excellent strategic fit for Thermo Fisher and highly complementary to PPD, our leading clinical research business.

“There is strong market demand for real-world evidence which improves decision making and reduces the time and cost associated with drug development.”

In May 2023, the company opened a new sterile drug plant in Singapore to extend its sterile manufacturing and research expertise in the Asia-Pacific region.

Source: pharmaceutical-technology.com

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