Thermo Fisher Scientific will acquire Clario for US$8.875bn in cash, aiming to deepen digital clinical trial insights used to run and assess studies.
Clario integrates clinical trial endpoint data from devices, sites and patients to help drugmakers collect, manage and analyse evidence across development. Endpoints are predefined outcomes used to judge whether a treatment is effective and safe.
Its tools include electronic clinical outcome assessments (eCOA), medical imaging, cardiac and respiratory assessments, and wearable data capture. Clario says its platform has supported about 70 per cent of FDA drug approvals over the past decade. The company operates globally with around 4,000 staff and expects about US$1.25bn revenue in 2025.
Marc N. Casper, chair, president and chief executive at Thermo Fisher, said: “Clario is an outstanding strategic fit, enabling faster, more informed drug development through differentiated technology and data intelligence solutions. 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.”
Clario chief executive Chris Fikry, MD, 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 expansion of our comprehensive clinical trial platform.”
Thermo Fisher expects the deal to be immediately accretive to adjusted operating margin and to add US$0.45 adjusted EPS in the first year after close. It targets about US$175m in adjusted operating income synergies by year five, mainly from revenue opportunities, and says the business should grow at a high single-digit rate under its ownership.
The company will fund the transaction with debt and cash on hand. Completion is targeted for mid-2026, subject to regulatory approvals. On close, Clario will join Thermo Fisher’s Laboratory Products and Biopharma Services segment.
Thermo Fisher said the sellers are a shareholder group led by Astorg and Nordic Capital, alongside Novo Holding and Cinven. Additional payments include US$125m due in January 2027 and up to US$400m in earn-outs based on 2026–2027 performance.
