April has seen a slew of executive hires, exits and layoffs across the healthcare industry. For example, AdventHealth and DexCare both named new CEOs, and Crozer Health and UNC Health have undergone CEO exits. There were also layoffs at organizations including Aetna, Sanford Health and Caribou Biosciences.
Thermo Fisher Scientific agreed to acquire the Purification and Filtration business of 3M spinoff Solventum. Filters and membranes from this business segment are used globally in applications such as biopharmaceutical manufacturing.
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Here is a selection of recent executive hires, promotions and layoffs occurring across the healthcare industry.
Thermo Fisher Scientific is acquiring Olink, a company that provides proteomics analysis tools and services used in drug discovery research. Olink’s growing revenue will help shore up a Thermo Fisher business segment whose sales have fallen due to declining Covid-19 testing demand.
CorEvitas brings Thermo Fisher Scientific registries that gather data about how approved therapies are working in the real world. The acquisition will complement PPD, the contract research organization that Thermo Fisher purchased in 2021.
Thermo Fisher Scientific’s acquisition of The Binding Site brings a company that specializes in diagnostic tests for blood cancers and immune system disorders. It’s Thermo Fisher’s biggest acquisition since its 2021 buyout of contract research organization PPD.
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CVS MinuteClinic providers will use Medable’s software platform to improve patient access, engagement and retention during clinical trials. Meanwhile, Thermo Fisher Scientific and Medidata Acorn AI announced a collaboration to develop an application that combines patient recruitment and site performance data for clinical trials.
Thermo Fisher Scientific sells laboratory equipment used in drug research and it also offers manufacturing services for experimental and commercialized drugs. By acquiring PPD, Thermo Fisher says it will gain capabilities in the growing global market of clinical trial services.
Healthcare mergers decreased in the first half of 2020, but not to the extent expected as a result of the Covid-19 pandemic. Reports by Pricewaterhouse Coopers and Kaufman Hall showed a decline in mergers and acquisitions, but still reported sustained interest from buyers
The company said Monday that it had received the EUA from the Food and Drug Administration Friday, the same day that Swiss drug and diagnostics maker Roche received a similar nod for its coronavirus test.
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While all these companies have been involved in developing testing, vaccines and drugs for SARS-CoV-2, fears related to the global coronavirus pandemic have taken their toll on them as well as firms in other sectors.
The deal will focus in particular on developing an NGS-based companion diagnostic to aid enrollment in clinical trials, especially for non-small cell lung cancer. Thermo Fisher signed a similar deal with Eli Lilly in September.
The deal between the two diagnostics giants, announced Tuesday, includes Thermo Fisher's assumption of $1.4 billion in Qiagen's debt. Qiagen has been developing diagnostics for detecting the novel coronavirus SARS-CoV-2.
The biotechnology product development company announced the launch of its Ion Torrent Genexus System at the Association for Molecular Pathology's annual meeting.
Brammer specializes in contract services for viral vector-based gene therapies. Panelists at a conference last week stressed the importance of manufacturing for gene therapy investors.