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Therma Fisher Acquires Rapid COVID-19 Test Provider Mesa Biotech for $450M

by Jasmine Pennic 01/22/2021 Leave a Comment

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Therma Fisher Acquires Rapid COVID-19 Test Provider Mesa Biotech for $450M

What You Should Know:

– Thermo Fisher Scientific Inc. has entered into a definitive agreement to acquire Mesa Biotech, Inc., a San Diego, CA-based molecular diagnostic company, for approximately $450 million in cash. Under the terms of the agreement, Thermo Fisher will pay up to an additional $100 million in cash upon the completion of certain milestones following the close of the transaction.

– Mesa Biotech designs, develops, manufactures, and commercializes next generation Rapid PCR tests, bringing the superior diagnostic performance of nucleic acid PCR amplification to the point-of-care (POC).

– Mesa Biotech’s Accula™ SARS-CoV-2 test was among the first POC tests to obtain Emergency Use Authorization, providing results within 30 minutes, with higher accuracy than other rapid tests on the market.

– The company has approximately 500 employees and reported $45M in revenue in 2020.

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Tagged With: Coronavirus (COVID-19)

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