Axios Pro Exclusive Content

Thermo Fisher to buy Audax’s CorEvitas for $913M

Claire Rychlewski
Illustration of a giant health plus on top of a pile of cash, the ground underneath is cracking.

Illustration: Aïda Amer/Axios

Well, that was quick. Thermo Fisher Scientific agreed to acquire clinical registry data company CorEvitas fr0m Audax for $913 million — just two days after news of the company's auction hit.

Why it's the BFD: The successful sale of a sponsor-backed health tech business could open the deals spigot for other scaled private equity-backed platforms waiting in the wings.

Details: Lab equipment giant Thermo Fisher will pay $912.5 million in cash, according to a statement.

  • The transaction is expected to be immediately accretive to adjusted earnings per share by 2024.
  • The deal should be completed by the end of the year.

What they're saying: “The addition of CorEvitas will further advance our capabilities to better serve our pharma and biotech customers and strengthen our value proposition,” Thermo Fisher CEO Marc Casper said in a statement.

What we're watching: The outcome of Thomas H. Lee Partners' auction of physician practice software provider Nextech.

Go deeper