By Christy Santhosh and Siddhi Mahatole (Reuters) – Thermo Fisher said on Wednesday it would buy privately held data management company Clario for up to $9.4 billion, strengthening its clinical trial research business amid a strong rebound in demand in the U.S. The deal includes an upfront payment of about $8.88 billion, in addition to […]
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Thermo Fisher to buy clinical services provider Clario for up to $9.4 billion
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By Christy Santhosh and Siddhi Mahatole
(Reuters) – Thermo Fisher said on Wednesday it would buy privately held data management company Clario for up to $9.4 billion, strengthening its clinical trial research business amid a strong rebound in demand in the U.S.
The deal includes an upfront payment of about $8.88 billion, in addition to $125 million in January 2027 and up to $400 million of earn-out payments based on the performance of Clario’s business in 2026 and 2027.
Thermo Fisher’s third major acquisition this year comes as the company looks to cash in on pharmaceutical firms ramping up drug development and manufacturing in the U.S.
“Clario is an outstanding strategic fit, enabling faster, more informed drug development through differentiated technology and data intelligence solutions,” Thermo Fisher CEO Marc Casper said in a statement.
Philadelphia-based Clario provides expertise in clinical trial research, using its suite of specialized tools and services to capture, analyze, and validate these studies.
It helps biotech companies to prepare data during clinical testing of their experimental treatments and advises them on how to determine trial goals when designing a study.
The deal expands Thermo’s reach into clinical development, which is a “more steadily growing and attractive area” compared to early-stage research and drug discovery, said Leerink Partners analyst Puneet Souda.
Souda said the deal builds on Thermo’s prior acquisitions, which include the $17.4 billion acquisition of contract researcher PPD in 2021 and the $913 million purchase of healthcare data provider CorEvitas in 2023.
Thermo said Clario, formed in 2021 following the merger of health-tech firms ERT and Bioclinica, is expected to generate about $1.25 billion of revenue in 2025.
The deal is expected to close in early 2026 and is projected to add 45 cents to adjusted profit in the first year after completion, the company said.
(Reporting by Christy Santhosh and Siddhi Mahatole in Bengaluru; Editing by Sriraj Kalluvila)