Thermo Fisher to Sell Microbiology Business to Astorg for $1.075 Bn

The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions.

Thermo Fisher Scientific has entered into a definitive agreement to sell its microbiology business to Astorg for approximately $1.075 billion, the company announced on April 27.

The transaction includes a mix of cash proceeds and a $50 million seller note. The microbiology business, part of Thermo Fisher’s Specialty Diagnostics segment, provides antimicrobial susceptibility testing and culture media solutions across clinical, pharmaceutical, and food safety applications. It reported revenues of $645 million in 2025.

The company stated that the deal aligns with its ongoing capital allocation strategy. “The transaction reflects our active management of the company and provides additional capital we can deploy to create shareholder value,” said Marc N. Casper, chairman and chief executive officer of Thermo Fisher.

He added that the microbiology business is well-positioned within Astorg’s portfolio, expressing confidence in a smooth transition following the completion of the deal.

The transaction is expected to close in the second half of 2026, subject to regulatory approvals and customary closing conditions. Thermo Fisher indicated that the divestiture is likely to have a dilutive impact of $0.15 on adjusted earnings per share in the first full year after closing.

Further details on the financial outlook, including the transaction’s impact, are expected to be shared during the company’s second-quarter earnings call.

Advisory firms involved in the deal include Cravath, Swaine & Moore LLP as principal legal counsel to Thermo Fisher, along with Axinn, Veltrop & Harkrider LLP and Hogan Lovells. Financial advisory support was provided by Perella Weinberg Partners and Wells Fargo. On the other side, Astorg was advised by Evercore and Moelis, with Latham serving as legal counsel.

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