Thermo Fisher to Acquire Clario for up to $9.4 Bn to Boost Clinical Trials

It aims to strengthen its digital and data capabilities, particularly in artificial intelligence and analytics, enabling faster, more efficient drug development and improving R&D returns for its biopharma clients

Thermo Fisher Scientific has agreed to acquire Clario, a Philadelphia-based leading provider of clinical-trial data management and technology solutions, for up to $9.4 billion.

Under the aegis of the agreement, Thermo Fisher will pay $8.88 billion in cash upfront, a deferred payment of $125 million in January 2027, and performance-based earn-outs of up to $400 million contingent on Clario’s results in 2026 and 2027.

The transaction is expected to close in early 2026, subject to regulatory approvals.

With the deal, Thermo Fisher aims to strengthen its digital and data capabilities, particularly in artificial intelligence and analytics, enabling faster, more efficient drug development and improving R&D returns for its biopharma clients.

By integrating Clario’s technology, Thermo Fisher aims to enhance data-driven insights across the entire clinical research process.

“Clario is an outstanding strategic fit, enabling faster, more informed drug development through differentiated technology and data intelligence solutions,” said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher Scientific.

“At Thermo Fisher, we come to work every day thinking about how we can further advance our customers’ important work, and by adding these high-growth capabilities, we will deliver even deeper clinical insights to our customers and further accelerate the digital transformation of clinical research,” he added.

Clairo provides industry-leading solutions by integrating clinical trial endpoint data from devices, sites and patients, enabling pharma and biotech customers to collect, manage and analyse clinical evidence digitally across every phase of drug development, supporting faster, more confident trial decisions.

Further, the platform enables electronic clinical outcome assessments (eCOA), medical imaging, cardiac solutions, respiratory assessments, and wearable data capture technologies designed to ensure the scientific integrity and regulatory compliance of clinical trial outcomes.

Commenting on the partnership, Chris Fikry, M.D., chief executive officer at Clario, said, “This strategic transaction will power the continued expansion of Clario’s differentiated digital endpoint platform and proprietary suite of AI tools.”

“Thermo Fisher Scientific’s global scale and extensive relationships with key decision makers across large pharma and biotech will fuel the expansion of our comprehensive clinical trial platform. We are certain this will benefit our clients and, ultimately, patients,” he said.

Currently, the company operates globally and has supported approximately 70% of FDA drug approvals over the past decade.

Further, it is expected to generate approximately $1.25 billion of revenue by the end of 2025.

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