Thermo Fisher Scientific today announced plans to acquire Solventum‘s Purification and Filtration business for $4.1 billion in cash.
Solventum (NYSE: SOLV) — which spun out of 3M last year — saw its stock rise more than 8% to $82.76 per share in morning trading on the news. Thermo Fisher (NYSE: TMO) shares were mostly unchanged at $536.30 per share.
Solventum’s Purification and Filtration business provides technologies for the production of medtech and other biologic and industrial applications. In 2024, the business generated approximately $1 billion in revenue.
“The sale of the Purification & Filtration business is part of phase three of our transformation plan and follows a thorough analysis of the value and strategic alignment of our businesses,” Solventum CEO Bryan Hanson said in a news release. “This transaction will enhance our strategic focus and key metrics while reducing leverage and significantly strengthening our balance sheet. It also enables us to invest in the innovation, programs and talent we need to execute our mission and deliver shareholder value.”
Solventum officials plan to discuss the sale more during the company’s earnings call on Feb. 27.
Thermo Fisher said the Purification and Filtration business is highly complementary to its bioproduction business.
“The addition of Solventum’s business is an outstanding strategic fit with our company and will create significant value for our customers and shareholders,” Thermo Fisher President and CEO Marc Casper said in a news release. “Solventum’s portfolio of solutions will be valued by our customers, and further demonstrate our disciplined capital deployment strategy which has an excellent track record of creating shareholder value.”
The transaction is expected to close by the end of 2025, subject to customary closing conditions and regulatory approvals. Once completed, the Purification and Filtration business will become part of Thermo Fisher’s Life Sciences Solutions segment.
“As the trusted partner to our customers, Solventum’s Purification & Filtration business will expand and add differentiated capabilities to our bioprocessing portfolio to better serve our customers in this rapidly growing market. We look forward to welcoming our new colleagues to Thermo Fisher,” Casper said.
