Thermo Fisher to Acquire The Binding Site Group

Waltham-based giant Thermo Fisher Scientific is poised to acquire UK-based specialty diagnostics company The Binding Site Group for $2.6 billion, continuing a string of acquisitions spanning several years. Upon completion of the transaction, expected in the first half of 2023, The Binding Site will become part of Thermo Fisher’s Specialty Diagnostics segment.

The Binding Site provides specialty diagnostic assays and instruments to improve the diagnosis and management of blood cancers and immune system disorders. Its Freelite product is widely recommended for multiple myeloma diagnosis and monitoring across all stages of the disease by major clinical guideline publications.

The Binding Site has more than 1,100 employees globally and is an active contributor to the broader scientific community. As an established leader in a fast-growing segment in which patient care has shifted towards early diagnosis and monitoring via regular testing, The Binding Site has an attractive financial profile. Its business has been growing approximately 10% annually and is on track to deliver more than $220 million of revenue in 2022. (Source: Thermo Fisher Scientific Website, 31 October, 2011)