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Life sciences group Thermo Fisher is nearing a takeover of drug trial software maker Clario in a deal that could value the healthcare technology group at approximately $10bn.
The all-cash deal could be announced as early as Wednesday provided it does not hit any last-minute snags, according to two people familiar with the matter.
The acquisition would give Thermo Fisher access to a platform that is playing an increasingly critical role in managing the clinical data essential to drug trials. Clario’s technology has been used across 26,000 trials in more than 100 countries, generating as much as $400mn a year in adjusted earnings.
If a sale materialises, it would mark one of the biggest full private equity exits of the year.
Founded in 2021 by a merger of health tech groups ERT and Bioclinica, Clario is majority owned by Stockholm-based private equity group Nordic Capital. It also counts Astorg Partners, Novo Holdings and Cinven as minority investors. Clario’s private equity backers had until recently been considering a public listing for the group.
Thermo Fisher, Clario, Nordic, Astorg, Novo Holdings and Cinven did not immediately respond to requests for comment.
The deal would mark Thermo Fisher’s biggest acquisition since 2021 when the Massachusetts-based group bought contract research organisation PPD in a deal worth $17.4bn. Earlier this year, Thermo Fisher struck a $4.1bn deal to buy Solventum’s filtration unit.
It comes amid a volatile period for Thermo Fisher and the wider healthcare sector. Shares in Thermo Fisher dropped earlier this year as investors fretted over the impact of President Donald Trump’s cuts to the National Institutes of Health on its sales, but they have since rallied.
Thermo Fisher shares are up 6 per cent this year, giving it a market capitalisation of $210bn.