Thermo Electron Acquires InnaPhase

WALTHAM, Mass., Sept. 13 -- Analytical instrument maker Thermo Electron Corp. announced today it has completed the acquisition of InnaPhase Corp., a Philadelphia-based supplier of laboratory information management systems for the pharmaceutical and biotechnology markets, for approximately $65 million in cash, subject to a post-closing adjustment.

Thermo Electron said InnaPhase's products will be integrated with its informatics product line. InnaPhase has over 100 employees and expects revenues of approximately $26 million in 2004.

"Bringing together the proven, innovative products and the industry knowledge represented by people from both organizations -- along with Thermo's best-in-class instrument, equipment and service capabilities -- will allow us to provide a breadth of solutions for our customers that is unequaled in the industry," said Jo Webber, PhD, former CEO of InnaPhase. Webber has been appointed general manager of Thermo's informatics business.

For more information, visit: www.thermo.com