Thermo Fisher Scientific to acquire Mesa Biotech for $500m to expand point-of-care diagnostics

Thermo Fisher Scientific, a global leader in laboratory and diagnostics solutions, has finalized an agreement to acquire Mesa Biotech, a California-based point-of-care molecular diagnostic company, in a deal valued at up to $500 million. This acquisition, which combines nearly $450 million in cash with additional performance-based milestones of up to $100 million, highlights Thermo Fisher’s strategic push to enhance its diagnostic capabilities in the fast-growing point-of-care market.

The acquisition will provide Thermo Fisher with Mesa Biotech’s advanced PCR-based testing platform, which has already gained significant attention for its rapid diagnostic capabilities. Mesa’s platform can detect a range of infectious diseases, including SARS-CoV-2, Influenza A and B, Strep A, and respiratory syncytial virus (RSV), making it highly relevant in the ongoing global effort to combat the COVID-19 pandemic and other infectious threats.

Expanding PCR technology in point-of-care settings

Mesa Biotech’s PCR-based diagnostic platform offers the ability to perform accurate tests at the point of care, providing results within 30 minutes. This technology will significantly expand the availability of gold-standard nucleic acid PCR amplification, bringing sophisticated diagnostic tools into more accessible settings such as clinics, doctor’s offices, and even pharmacies.

Thermo Fisher’s executive vice president and chief operating officer, Mark Stevenson, emphasized the importance of the acquisition, stating that Mesa Biotech’s platform aligns with Thermo Fisher’s goal of accelerating the availability of reliable and rapid molecular diagnostics at the point of care. He noted that the acquisition would enable the company to continue meeting the increased demand for COVID-related testing while expanding its point-of-care diagnostics for a variety of infectious diseases in the future.

Mesa Biotech’s rapid growth and innovative contributions

Founded in San Diego, Mesa Biotech has been at the forefront of developing accessible molecular diagnostics. With a workforce of nearly 500 employees and 2020 revenues around $45 million, the company has made significant strides in advancing point-of-care testing. Mesa’s Accula System, which has received 510(k) clearance and clinical laboratory improvement amendments (CLIA) waivers for multiple tests, also holds emergency use authorization (EUA) for SARS-CoV-2 in vitro diagnostic testing from the U.S. Food and Drug Administration (FDA).

The Accula platform’s capacity to deliver accurate results within minutes is expected to complement Thermo Fisher’s existing diagnostic offerings, enabling it to respond to urgent health crises while also preparing for future challenges.

A powerful merger for global health impact

Mesa Biotech’s president and CEO, Ingo Chakravarty, expressed pride in the company’s achievements and excitement about the acquisition. He highlighted the potential for Mesa’s rapid PCR platform to play an even more significant role in public health efforts globally, under the scale and innovation of Thermo Fisher. Chakravarty emphasized the merger would expand the reach and impact of their technology, especially in the fight against COVID-19 and beyond.

The acquisition is subject to regulatory approval and is expected to close in the first quarter of 2021. Following the deal’s closure, Mesa Biotech will operate as part of Thermo Fisher’s life sciences solutions segment, integrating its innovative testing technology with Thermo Fisher’s comprehensive global healthcare solutions.