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Thermo Fisher Scientific (NYSE: TMO) | Company Profile, History, Competitors


Thermo Fisher Scientific (NYSE: TMO) sells analytical instruments, consumables and services for the life sciences industries. As of 2017, TMO has over 400,000 customers globally. The company was founded in 1956 and headquartered in Waltham, MA.

The company was founded as Thermo Electron in 1956 by George Hatsopoulos and Peter Nomikos. In 2006, the company merged with Fisher Scientific to form one of the largest manufacturers to life sciences companies. The company provides various testing equipment and services to laboratories including sample preparation, consumables, bioreagents and instruments.

Business Overview

TMO operates in four main segments:
  • Laboratory Products and Services (36% of 2017 Revenues): Sells self-manufactured and sourced products for biopharmaceutical, academic and government research, industrial, and laboratories.
  • Life Sciences Solutions (26% of 2017 Revenues): Sells reagents, instruments and consumables for biological research
  • Analytical Technologies (17% of 2017 Revenues): Develops, manufactures and markets instruments, consumables and software for laboratory work
  • Specialty Diagnostics (16% of 2017 Revenues): Develops and markets diagnostic tests, reagents, culture media, and associated products for laboratory work.

Laboratory Products and Services Segment

The Laboratory Products and Services business operates in five main sub-segments:

Laboratory Equipment Provides solutions to biopharmaceutical companies for drug discovery and development, as well as universities for life science research. Key products include equipment, accessories, and services for sample preparation, storage, protection, and analysis.

Laboratory Consumables Sells plastics, glass, and related consumables to customers for scientific research, drug discovery and development. Key products include cell culture and bioproduction, sample preparation and storage, liquid handling, detection instruments and specialty products and services.

Global Chemicals Sells chemicals, solvents, and reagents to customers for drug discovery, development and manufacturing. Key products include laboratory chemicals, high purity analytical reagents, bioreagents, reactive intermediates and screening libraries.

Research and Safety Market Channel Sells over 650,000 products to research centers, biopharmaceutical companies and industrial customers. Key products include laboratory products, safety products, personal protective equipment, firefighting, military and environmental monitoring equipment.

BioPharma Services Provides services for biopharmaceutical companies engaging in clinical trials. Services include comparator sourcing; specialized packaging; over-encapsulation, multi-lingual and specialized labeling and distribution for phase I-IV clinical trials, biological specimen management; specialty pharmaceutical logistics; and clinical supply-chain planning and management.

Life Sciences Solutions Segment

The Life Sciences Solutions business operates in four main sub-segments:

Biosciences Business Sells platforms, reagents, and consumables for biological analysis. Provides tools for genetic engineering for RNA isolation, protein analysis, electrophoresis gels, western blotting and staining tools.

Genetics Sciences Provides solutions to support genomics in clinical research. Key products include Real-time Polymerase Chain Reaction technology, Capillary Electrophoresis sequencing, microarray technology and genotyping.

Clinical Next-Generation Sequencing Provides sequencing solutions for academic research and clinical oncology. Their Ion Torrent sequencing technology is a simple, fast, cost-effective and scalable benchtop system.

BioProduction Supports developers of biological-based therapeutics and vaccines with a portfolio of upstream cell culture, downstream purification and impurities detection technology. Key products include single-use bioproduction solutions, production cell culture media solutions, chromatography products and rapid molecular products for contaminant detection.

Analytical Technologies Segment

The Analytical Technologies business operates in three main sub-segments:

Chromatography and Mass Spectrometry Sells analytical instruments for organic and inorganic analysis in both the applied and life science research markets. Key products include laboratory information management systems, chromatography data systems, chromatography columns, and a range of sample preparation and separation products.

Chemical Analysis Designs products to analyze the composition of materials for government regulation standards or industrial applications. Key products include portable analytical instruments, x-ray fluorescence technology and QA/QC technology for pharmaceutical production.

Materials and Structural Analysis Develops, manufactures and markets electron microscopy, molecular microscopy, and laboratory elemental analysis instruments for life sciences, materials sciences, and industrial customers.

Specialty Diagnostics Segment

The Specialty Diagnostics business operates in six main sub-segments:

Clinical Diagnostics Sell immunodiagnostic reagent kits, calibrators, controls and calibration verification fluids; private label reagents, clinical chemistry systems, pre- and post-analytical automation and specialty diagnostics.

ImmunoDiagnostics Develops, manufactures, and markets complete blood-test systems that support the diagnosis and monitoring of allergy, asthma, and autoimmune diseases. Offers antibody tests for 20 indications to help diagnose autoimmune diseases such as rheumatoid arthritis, celiac disease, lupus, and scleroderma.

Microbiology Provides dehydrated and prepared cell culture media, instruments and consumables to detect pathogens in blood, diagnostic and rapid direct specimen tests, quality-control products for microbiology laboratories.

Anatomical Pathology Provides a broad range of products for cancer diagnosis and medical research in histology, cytology and hematology applications.

Transport Diagnostics Sells diagnostic products to transplant centers for human leukocyte antigen typing and testing to determine the compatibility of transplant donors. Key products include HLA typing, antibody detection assays, enzyme-linked immunosorbent assays, flow and multiplexing technologies.

Healthcare Market Channel Sells consumables and kits to hospitals, clinical laboratories, reference laboratories and physician offices.

Sales & Marketing

The company has 12,000 sales personnel and sells products directly and through third-party distributors. The company sells through its Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific and Unity Lab Services brands.


As of 2017, the company has more than 400,000 worldwide in pharmaceuticals, biotech, hospitals, clinical laboratories and universities.


Its major competitors are Agilent Technologies, Bruker, Danaher, Ilumina, Merck, PerkinElmer, Roche, Shimadzu and Waters Corp.


The company was founded as Thermo Electron in 1956 by George Hatsopoulos and Peter Nomikos. In 1967, the company went public. In 2006, the company merged with Fisher Scientific to form one of the largest manufacturers to life sciences companies.

In 2011, the company bought Phadia , a global leader in allergy and autoimmunity diagnostics. In 2011, the company also acquired Dionex Corporation, a leading manufacturer in chromatography. In 2014, the company acquired Life Technologies, a provider of products for scientific resaerch and genetic analysis. In 2017, the company acquired Patheon, a contract manufacturer for the pharmaceutical industry.


Marc N. Casper (CEO): Mark Casper serves as CEO since 2009. Prior, he served in various roles at the company including COO, President and VP of Life & Laboratory Sciences. He previously worked as CEO of Dade Behring, a supplier to the medical diagnostics. He had also worked as a consultant at Bain & Company.

Stephen Williamson (CFO): Stephen Williamson serves as CFO since 2015. Prior, he served in various roles at the company including VP Financial Operations and VP European Financial Operations. He had also worked at Analytical Technologies, Honeywell and PriceWaterhouseCoopers.


 $ USD in millions    2013    2014 2015 2016 2017
 Revenues $13,090 
 Gross Profit $5,558 
 Operating Profit $1,610 
 Net Income$1,273 

Thermo Fisher Scientific, Intc
  Type     Public
  Ticker     NYSE: TMO
  Industry Healthcare
  Founded 1956
  Headquarters Waltham, MA
  Customers 400,000 (2017)
$21bn (2017)
  Employees 70,000 (2017)
  Website thermo