Thermo Fisher Scientific Intends To Acquire Mesa for 550 Mil

Recently,Thermo Fisher Scientific announced that it plans to acquire Mesa Biotech,INC with USD 450 million in cash and a milestone payment of USD 100 million.

On June 26, 2015, MESA Biotech, Inc. (" MESA ") was founded by Ms. Hong Cai, Mr. Robert Brucecarey and Mr. John W. Eling, mainly engaged in the development and production of molecular diagnostics and POCT(point of care testing)  related products.Headquartered in San Diego, California. The company mainly develops and sells PCR-based rapid testing platforms for infectious diseases, including SARS-CoV-2 (COVID-19), influenza A and B, respiratory syncytial virus (RSV) and group A streptococcus. The company has approximately 500 employees and reported revenues of approximately $45 million in 2020.

On January 20, 2021,Haier Biomedical, a listed company in China, announced that it held a total of 17.11% of the equity of Mesa Biotech, Inc., and planned to sell all of the equity of Mesa Biotech to Thermo Fisher.Haier Biomedical holds 14.54% of Mesa's equity; through its wholly-owned subsidiary Haier BioMedical HK Co., Limited, it holds 2.57% of Mesa's equity. The transaction is expected to increase the company's 2021 pre-tax investment income by approximately RMB 349 million. The specific amount will be known after the company's final consideration for this transaction is determined.

Mark Stevenson, Thermo Fisher's executive vice president and chief operating officer, said, “Mesa Biotech's innovative platform will enable us to accelerate the availability of reliable, accurate advanced molecular diagnostics in the field.Since the beginning of the pandemic, Thermo Fisher has moved quickly to support the scientists and healthcare professionals on the front lines of the battle against COVID-19. Mesa Biotech's products are easy to use. The PCR-based rapid test is a highly supplement to existing products. While rapidly expanding the scale, it will further help us meet the continuing demand for COVID-related tests. In the future, it is expected to develop point of care testing for other infectious diseases. ”

Thermo Fisher has been playing an important role in the field of clinical diagnosis through reagents, testing and equipment for a long time. The acquisition of Mesa is just one of them. The transaction is expected to be completed in the first quarter of 2021, subject to customary delivery conditions, including regulatory approval. After the transaction is completed, the business will become part of Thermo Fisher's Life Science Solutions Division.