• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Inverness Medical spikes distribution pact with Thermo Fisher

Inverness Medical spikes distribution pact with Thermo Fisher

November 10, 2009 By MassDevice staff

Inverness Medical Innovations Inc. is cutting ties with Thermo Fisher Scientific Inc., a decision that will likely cost Thermo Fisher $100 million in sales next year.

Thermo Fisher said its Waltham, Mass.-based neighbor Inverness is terminating a contract that had Thermo Fisher working as a third-party seller of its Biosite product lines. The pact is expected to generate about $200 million in revenue for Thermo Fisher this year and should produce another $100 million to the company in 2010 before its July 1 termination, according to a regulatory filing.

Thermo Fisher said a recently inked a deal with another, as-yet-unidentified manufacturer of diagnostic products could generate $40 million in sales next year, helping to offset a portion of the loss caused by Inverness moving on.

Inverness purchased San Diego-based Biosite Diagnostics” in June 2007 for about $71 million, and in the process, also acquired Biosite’s long-standing distribution agreement with Fisher Healthcare. That contract was last extended in July for another two years, but also allowed Inverness to opt out of the deal with 180 day’s notice if Thermo Fisher failed to reach certain sales targets.*

Through its Houston-based Fisher Health Care subsidiary, the company marketed several Inverness-produced products to hospitals and other facilities, including drug screens and tests to find blood clots or signs of congestive heart failure. Fisher officials last month estimated that 2009 sales in its healthcare channel, included as part of the company’s laboratory service segment, would be off by at least $60 million from 2008 levels.

Overall sales at Thermo Fisher were down about 7 percent through the first nine months of 2009, falling to $7.27 billion from $7.81 billion during the same nine months in 2008. But the lab services segment appeared to have largely stabilized in recent months, with third-quarter sales climbing $21 million to $1.63 billion despite a $16 million decline in healthcare-related sales.

Sales of professional diagnostic products at Inverness were up $86.5 million, or 34 percent, to $334 million during the third quarter, boosted roughly equally by increased sales of flu-related tests and revenues from acquired companies.

*Correction, 11/11/2009: Due to a reporter’s oversight, this article incorrectly reported the date, location and some of the terms for Inverness Medical Innovations’ 2007 acquisition of Biosite Diagnostics. Return to the corrected sentence.

Filed Under: Business/Financial News, Diagnostics

More recent news

  • Medtronic earns CE mark for redo TAVI procedure
  • Natus Neuro launches BrainWatch AI-driven, point-of-care EEG
  • Boston Scientific has positive real-world Acurate Prime TAVI data
  • Johnson & Johnson MedTech launches ultrasound catheter for imaging in cardiac ablation procedures
  • Onward reports more successful BCI implants

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy