Thermo Fisher Scientific has begun a deal to acquire Solventum’s Purification & Filtration business for about $4.1 billion in cash.

The business is a leading provider of purification and filtration tech used in biologics production, medical technologies, and industrial applications. The business has sites in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region, with about 2,500 employees.

Last year, the business generated about $1 billion in revenue.

Thermo Fisher said the business is quite complementary to its own bioproduction business, which already boasts a portfolio of cell culture media and single-use technologies. Solventum’s filtration portfolio expands Thermo Fisher’s abilities in development and manufacturing of biologics, spanning upstream and downstream workflows.

“The addition of Solventum’s business is an outstanding strategic fit with our company and will create significant value for our customers and shareholders,” said Marc N. Casper, chairman, president, and CEO of Thermo Fisher. “Solventum’s portfolio of solutions will be valued by our customers, and further demonstrate our disciplined capital deployment strategy which has an excellent track record of creating shareholder value.”

The transaction is expected to close by the end of 2025. The Purification & Filtration business is expected to reach mid-to high-single digit organic growth. In the first year of ownership, the transaction is expected to be dilutive to adjusted earnings per share (EPS) by $0.06.

Casper continued, “As the trusted partner to our customers, Solventum’s Purification & Filtration business will expand and add differentiated capabilities to our bioprocessing portfolio to better serve our customers in this rapidly growing market. We look forward to welcoming our new colleagues to Thermo Fisher.”