M&A

3M spin-off Solventum has announced that global supplier of analytical instruments Thermo Fisher Scientific has agreed to purchase its purification and filtration businesses unit for $4.1bn.

The purification and filtration business generated $1bn of revenue in 2024, according to the company, and operates globally. The deal is subject to regulatory approval before it closes at the end of 2025.

The business unit includes filters and membrane technology that are used in biopharma manufacturing, specifically in the production of biologics.

According to Thermo Fisher’s press release, the acquisition of this technology will improve the company’s biologics capabilities across ‘downstream and upstream workflows’.

Bryan Hanson, Solventum chief executive officer, commented, “The sale of the Purification & Filtration business is part of phase three of our transformation plan and follows a thorough analysis of the value and strategic alignment of our businesses. This transaction will enhance our strategic focus and key metrics while reducing leverage and significantly strengthening our balance sheet. It also enables us to invest in the innovation, programmes and talent we need to execute our mission and deliver shareholder value.”

Chairman, president and chief executive officer of Thermo Fisher, Marc N Casper, added: “The addition of Solventum’s business is an outstanding strategic fit with our company and will create significant value for our customers and shareholders. Solventum’s portfolio of solutions will be valued by our customers, and further demonstrate our disciplined capital deployment strategy, which has an excellent track record of creating shareholder value.”