Thermo Fisher Scientific Inc. has completed its acquisition of Olink Holding AB, a provider of next-generation proteomics solutions. The transaction values Olink at approximately $3.1 billion. Olink will become part of Thermo Fisher's Life Sciences Solutions segment.

Demand fluctuations have spurred Thermo Fisher Scientific to downsize at the plasmid DNA manufacturing facility the company opened a little less than three years ago, putting jobs on the chopping block.

Thermo Fisher Scientific said Wednesday that it has partnered with Bayer to develop companion diagnostic assays for the drugmaker’s precision cancer therapies. 

Thermo Fisher Scientific endured another challenging quarter marked by declining revenue, according to its latest earnings report released Wednesday morning.

During Q3, Thermo Fisher’s revenue slid 1% to $10.57 billion, with organic revenue down 3%. Additionally, the company’s COVID-19 testing revenue totaled a mere $50 million, though its core organic revenue growth was 1%.

Thermo Fisher Scientific (TMO.N) would acquire Olink Holding AB (OLK.O) in a deal valued at $3.1 billion, the companies said on Tuesday, as the U.S. medical equipment maker seeks to boost its life sciences portfolio that helps drug discovery.

Thermo Fisher Scientific has announced entering into a definitive agreement to acquire CorEvitas, from Audax Private Equity for $912.5 million in cash. The acquisition could close by the end of the year.

If 2022 was a disappointing period for medtech dealmaking, 2023 is shaping up to be even worse. The few mergers and acquisitions that have closed so far this year are more to do with companies divesting units than buying in innovative technology. And several others have resulted from private equity firms shuffling their assets.

When it comes to venture financings the picture is not a lot rosier. Less money has been raised than at any half-year point since June 2015, and just 65 deals were done. And the other route for private medtechs to raise cash is closed off completely: the first half of 2023 saw precisely zero medtech IPOs.

A pair of newly FDA-cleared blood tests from Thermo Fisher Scientific could be a major boon in the early detection and treatment of preeclampsia, a pregnancy complication that can endanger both the mother and fetus—and one that’s risen in prevalence in the U.S. in recent years.

Thermo Fisher Scientific is closing down three facilities and facing layoffs because of the severe decline in demand for COVID-19 testing.

The Waltham, MA-based company is cutting 230 positions, according to three Worker Adjustment and Retraining Notification (WARN) notices.