WALTHAM, Mass., Sep 13, 2004 /PRNewswire-FirstCall via COMTEX/ -- Thermo Electron
Corporation (NYSE: TMO), the world leader in analytical instruments, announced
it has completed the acquisition of InnaPhase Corporation, a premier supplier
of Laboratory Information Management Systems (LIMS) for the pharmaceutical and
biotechnology markets, for approximately $65 million in cash, subject to a
post-closing adjustment. Headquartered in Philadelphia, InnaPhase has over
100 employees and expects revenues of approximately $26 million in 2004. With
this acquisition, Thermo extends its position as the largest provider of LIMS
products and services in the world.
InnaPhase's flagship Watson(TM) LIMS is the leading product in drug
development laboratories and the industry standard for bioanalytical
applications. InnaPhase's products will be integrated with Thermo's
informatics product line, which includes SampleManager(TM), the leading LIMS
for large analytical laboratories.
"The InnaPhase team brings deep industry expertise and world-class
software development capabilities," commented Marijn E. Dekkers, Ph.D.,
president and CEO of Thermo Electron Corporation. "The addition of InnaPhase's
pharmaceutical LIMS technology broadens and strengthens the array of solutions
that Thermo is able to provide its customers in key applications such as
proteomics and ADME/TOX. As customers continue to standardize on informatics
products and vendors, Thermo is strategically positioned to offer a broad
portfolio of integrated solutions with the industry expertise and resources
required for successful implementations."
"Bringing together the proven, innovative products and the industry
knowledge represented by people from both organizations -- along with Thermo's
best-in-class instrument, equipment and service capabilities -- will allow us
to provide a breadth of solutions for our customers that is unequaled in the
industry," commented Jo Webber, Ph.D., former CEO of InnaPhase. She has been
newly appointed to general manager of Thermo's informatics business.
About Thermo Electron
Thermo Electron Corporation is the world leader in analytical instruments.
Our instrument solutions enable our customers to make the world a healthier,
cleaner and safer place. Thermo's Life and Laboratory Sciences business
provides analytical instruments, scientific equipment, services and software
solutions for life science, drug discovery, clinical, environmental and
industrial laboratories. Thermo's Measurement and Control business is
dedicated to providing analytical instruments used in a variety of
manufacturing processes and in-the-field applications, including those
associated with safety and homeland security. Based near Boston,
Massachusetts, Thermo has revenues of more than $2 billion, and employs
approximately 10,000 people in 30 countries. For more information, visit
http://www.thermo.com.
The following constitutes a "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release contains forward-
looking statements that involve a number of risks and uncertainties. Important
factors that could cause actual results to differ materially from those
indicated by such forward-looking statements are set forth under the heading
"Forward-Looking Statements" in the company's Quarterly Report on Form 10-Q
for the fiscal quarter ended July 3, 2004. These include risks and
uncertainties relating to: the need to develop new products and adapt to
significant technological change; dependence on customers that operate in
cyclical industries; general worldwide economic conditions and related
uncertainties; the effect of changes in governmental regulations; dependence
on customers' capital spending policies and government funding policies; use
and protection of intellectual property; exposure to product liability claims
in excess of insurance coverage; retention of contingent liabilities from
businesses we sold; realization of potential future savings from new
productivity initiatives; implementation of new branding strategy;
implementation of strategies for improving internal growth; the effect of
exchange rate fluctuations on international operations; identification,
completion and integration of new acquisitions; and potential impairment of
goodwill from previous acquisitions. We undertake no obligation to publicly
update any forward-looking statement, whether as a result of new information,
future events or otherwise.
Media Contact Information:
Lori Gorski
Phone: 781-622-1242
E-mail: lori.gorski@thermo.com
Website: http://www.thermo.com
Investor Contact Information:
J. Timothy Corcoran
Phone: 781-622-1111
E-mail: tim.corcoran@thermo.com
SOURCE Thermo Electron Corporation
Media: Lori Gorski, +1-781-622-1242, lori.gorski@thermo.com, or
Investors: J. Timothy Corcoran, +1-781-622-1111, tim.corcoran@thermo.com, both
of Thermo
http://www.thermo.com
