Thermo Fisher Scientific has entered into a definitive agreement to divest its microbiology business to Astorg, a pan-European private equity firm, in a deal valued at approximately USD 1.075 billion. The consideration includes cash along with a USD 50 million seller note, marking a strategic move by the company to streamline its portfolio and reallocate capital toward higher-growth opportunities.

The microbiology unit, part of Thermo Fisher’s Specialty Diagnostics segment, offers antimicrobial susceptibility testing and culture media solutions catering to clinical, pharmaceutical and food safety applications. The business reported revenues of USD 645 million in 2025, reflecting its established presence in the diagnostics space.

According to Marc N. Casper, chairman and CEO of Thermo Fisher, the transaction aligns with the company’s strategy of actively managing its business portfolio to enhance shareholder value. He noted that the microbiology division is well positioned within Astorg’s investment framework and expressed confidence in a seamless transition post-acquisition.

The deal is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions. Thermo Fisher indicated that the divestment may have a dilutive impact of approximately USD 0.15 on adjusted earnings per share in the first full year after completion. Further financial implications will be outlined during the company’s upcoming second-quarter earnings call.

Advisory support for the transaction includes Cravath, Swaine and Moore LLP as principal deal counsel for Thermo Fisher, alongside Axinn, Veltrop and Harkrider LLP and Hogan Lovells for regulatory and international counsel, respectively. Financial advisory services are being provided by Perella Weinberg Partners and Wells Fargo. On the other side, Astorg is being advised by Evercore and Moelis, with Latham acting as legal counsel.

Thermo Fisher Scientific, a global leader in scientific services with annual revenues exceeding USD 45 billion, continues to focus on advancing healthcare, research and laboratory solutions through strategic investments and portfolio optimisation.