WALTHAM, Mass. — Thermo Fisher Scientific Inc. has completed its acquisition of Clario Holdings, Inc., a clinical trial data solutions provider, in a deal valued at $8.875 billion in cash, with additional payments tied to future performance.
The acquisition strengthens Thermo Fisher’s position as a key partner to pharmaceutical and biotechnology companies by expanding its ability to deliver data-driven insights across the drug development process. Clario will now operate within Thermo Fisher’s Laboratory Products and Biopharma Services segment.
Clario specializes in collecting and analyzing endpoint data from clinical trials, integrating information from devices, research sites, and patients. Its platform enables companies to digitally manage clinical evidence throughout every phase of development, helping accelerate decision-making and improve productivity. The company’s technology has supported roughly 70 percent of novel drug approvals by the FDA and EMA over the past decade.
“We are excited to welcome Clario’s talented colleagues to Thermo Fisher,” said Marc N. Casper, chairman and chief executive officer of Thermo Fisher Scientific. “Clario is an outstanding strategic fit for our company, enhancing our ability to enable faster, more informed drug development through differentiated technology and data intelligence solutions.”
Thermo Fisher said the acquisition offers a strong financial profile, with expectations of high single-digit growth and a double-digit internal rate of return. The deal is also expected to improve the company’s adjusted operating margins.
The company previously said the transaction would contribute approximately $0.45 in adjusted earnings per share in the first year after closing. Additional details on the impact to Thermo Fisher’s 2026 financial performance are expected during its upcoming first-quarter earnings call.
Thermo Fisher also anticipates generating about $175 million in adjusted operating income from synergies within five years, driven largely by expanded revenue opportunities from the combined businesses.
Clario was acquired from a group of investors led by Astorg and Nordic Capital, along with Novo Holdings and Cinven.
Under the terms of the agreement, Thermo Fisher will make an additional $125 million payment in January 2027 and could pay up to $400 million in earn-out payments depending on Clario’s performance in 2026 and 2027.
