Product category:
Asset Management and maintenance planning
News Release from: Thermo Fisher Scientific (Informatics)
Edited by the Processingtalk Editorial
Team on 12 May 2004
Thermo Electron Acquires US Counseling
Services
Thermo Electron announces the purchase of US Counseling Services for USD77.9 million in cash, to augment its service business and to provide critical asset management skills for laboratories
Thermo Electron Corporation, a premier supplier of instruments, scientific equipment, services, and software solutions to the laboratory, announces the purchase of US Counseling Services ("USCS") for USD77.9 million in cash, subject to a post-closing adjustment Thermo net purchase price is USD74.7 million, after adjusting for USD3.2 million in cash acquired with the business
This article was originally published on Processingtalk on 17 Jan 2008 at 8.00am (UK)
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As one of the largest scientific instruments companies in the world, Thermo has historically provided maintenance and repair services to customers.
In November 2003, Thermo added to this capability by acquiring LMSi, bringing instrument and computer systems validation, metrology, and certification, as well as a range of associated consulting services.
Now, with the addition of USCS, Thermo has augmented its service business to provide critical asset management skills, furthering the Thermo strategy to become the most comprehensive service provider to scientific laboratories worldwide.
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Based in Brookfield, Wisconsin, USCS is a leader in equipment asset management services in the pharmaceutical and healthcare industries.
The company has successfully established a growing market position, providing a wide range of asset management services, including instrument and equipment maintenance management, physical inventory tracking, and cost-of ownership analysis to help customers improve the performance of their laboratory or facility.
USCS was founded in 1969 and employs 175 people.
The company had revenues of approximately USD57.0 million in 2003.
Marijn E Dekkers, president and CEO of Thermo Electron Corporation, said, "The pressure to reduce operating budgets and improve return on assets is very real to laboratory and facility managers.
USCS has a proven track record with their Lifecycle maintenance management product, a valuable tool enabling customers to manage their total cost of ownership for major capital equipment investments.
Having completed the acquisition of LMSi, this acquisition represents the next step in the Thermo strategy to expand our leading laboratory services business in the life science and analytical instruments industry".
"The Thermo-USCS combination represents an exciting opportunity for our employees and our healthcare and life science customers," said Scott McFadden, president and COO of USCS.
"While we have been very successful as an independent company over the past 30 years, Thermo resources and market knowledge will enable us to provide additional products and services to our current customers, while more rapidly expanding our service offerings to the life science and analytical instruments industry. Request free introductory details about products from Thermo Fisher Scientific (Informatics) ...
We are excited to join the Thermo team.".
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