In a groundbreaking agreement, Thermo Fisher will procure Olink for $26 per common share in cash, marking an impressive 74% premium over Olink’s closing price on the Nasdaq on October 16, 2023. This transaction also includes net cash of approximately $143 million.
Olink’s pioneering Proximity Extension Assay (PEA) technology offers high-throughput protein analysis for quantitative polymerase chain reaction (qPCR) and next-generation sequencing readout systems. This innovation has garnered substantial attention, with a library of over 5,300 validated protein biomarker targets and citations in more than 1,400 scientific publications.
Following the announcement, Olink’s shares experienced a surge, underscoring the industry’s recognition of the value this acquisition brings. Thermo Fisher’s CEO, Marc N. Casper, emphasized the transformative potential of Olink’s technology and its seamless integration with Thermo Fisher’s existing platforms.
This acquisition dovetails perfectly with Thermo Fisher’s steadfast commitment to advancing life science research and precision medicine. Olink’s expertise in proteomics, particularly within research applications, synergizes seamlessly with Thermo Fisher’s capabilities, offering high-throughput protein analysis that complements their mass spectrometry and life sciences platforms.
Thermo Fisher foresees Olink’s revenue surpassing $200 million in 2024. The acquisition is projected to drive mid-teens organic growth and deliver approximately $125 million in adjusted operating income through revenue and cost synergies within five years post-closure.
Both companies’ boards, alongside Olink’s largest shareholder and other significant stakeholders, have given their endorsement to the deal. The acquisition is set to conclude by mid-2024, subject to customary closing conditions and regulatory approvals.
This acquisition comes on the heels of Thermo Fisher’s recent introduction of the Thermo Scientific™ Orbitrap™ Astral™ mass spectrometer, reaffirming the company’s unwavering dedication to broadening its proteomic offerings and maintaining its leading position in technological advancements within the field.
Thermo Fisher’s acquisition of Olink Holding AB marks a monumental milestone in the proteomics landscape. This strategic move not only expands Thermo Fisher’s global footprint but also cements the company’s position as a trailblazer in high-throughput protein analysis—empowering researchers to expedite discoveries and scientific breakthroughs in life science and precision medicine.
Follow Kapia on LinkedIn: https://www.linkedin.com/company/kapia-io/
Kapia is a boutique organization established just under three years ago with a mission to revolutionize the perception of recruitment. Focusing solely on the scientific and medical technology sectors, Kapia prides itself on a continuous learning and improvement methodology, providing clients with the highest level of service. Employing techniques derived from Miller Heiman Blue and Green sheets, each project is meticulously analyzed and tailored to align with the client’s goals. Kapia distinguishes itself not by being superior, but by being different, with the ultimate aim of contributing to the success of its clients.
To offer companies the opportunity to partner with a recruitment consultancy that places emphasis on the ‘consultancy’ aspect. Kapia is committed to transforming the recruitment landscape and is determined to prove itself right.