April 15, 2021 -- Thermo Fisher Scientific announced it will acquire clinical research services company PPD for a total cash purchase price of $17.4 billion plus the assumption of approximately $3.5 billion of net debt.
PPD has more than 26,000 colleagues operating in nearly 50 countries. In 2020, the company generated revenue of $4.7 billion. Upon close of the transaction, PPD will become part of Thermo Fisher's Laboratory Products and Services Segment.
The transaction is expected to be completed by the end of 2021, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals.