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Thermo Electron Acquires InnaPhase
Sep 2004
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.

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