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Two more acquisitions for Fisher Scientific
Fisher Scientific announced late Tuesday afternoon that it has acquired two privately held companies — Clintrak Pharmaceutical Services, a Long Island-based clinical trial label company and TC Tech, a provider of various bags and tubing used by pharmaceutical companies and laboratories.
Fisher paid $125 million to purchase Clintrak from Bear Growth Capital Partners, an investment firm that bought Clintrak at the end of 2003. In 2005, Clintrak had revenues of approximately $31 million. The deal is expected to close early in the second quarter.
Details on the TC Tech were not disclosed. Fisher is funding the acquisitions with cash and bank loans, and expects that neither acquisition will have any affect on 2006 earnings per share. Fisher share price increased about 50 cents on the New York Stock Exchange the day following the announcement. – BOB SANDERS
