Thermo Electron Acquires Laboratory Services Provider LMSi
WALTHAM, Mass. (November 5, 2003) – Thermo Electron Corporation (NYSE:TMO), a leading global supplier of laboratory instruments and services, announced today that it has acquired Laboratory Management Systems, Inc. (LMSi) of New Castle, Delaware. LMSi is a supplier of regulatory instrument and consulting services to the pharmaceutical and related industries, and generated revenues of $11 million during its 2003 fiscal year. In its nine-year history, LMSi has been ranked three times on Inc. magazine’s annual “Inc. 500” list of America’s fastest-growing private companies.
LMSi specializes in performing instrument and computer systems validation, metrology, and certification, as well as a range of associated consulting services. The company has developed a broad portfolio of analytical instrument validation protocols and operating procedures that enable laboratories to comply with U.S. Food and Drug Administration requirements.
“This acquisition is an important step in our strategy to offer customers comprehensive laboratory solutions that include full product support, for almost any instrument, anywhere,” said Marijn E. Dekkers, president and chief executive officer of Thermo Electron. “Adding LMSi’s regulatory and compliance expertise to our global laboratory service network will allow us to be a regulatory validation and consulting partner to customers who face increasing productivity, quality, and regulatory challenges.”
Chuck Whitney, a founder of LMSi, remarked, “Combining LMSi’s expertise with Thermo’s global resources and extensive line of products and services significantly benefits our mutual customers, who are some of the leading names in the pharmaceutical industry. Thermo is uniquely positioned to offer customers unparalleled product breadth and the security of partnering with a well-recognized global services provider.”
A world leader in high-tech instruments, Thermo Electron Corporation helps life science,
laboratory, and industrial customers advance scientific knowledge, enable drug discovery, improve manufacturing processes, and protect people and the environment with instruments, scientific equipment, and integrated software solutions. Based in Waltham, Massachusetts, Thermo Electron has revenues of more than $2 billion, and employs approximately 10,000 people in 30 countries worldwide. For more information, visit www.thermo.com
