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Fisher Scientific and Apogent Technologies to merge


Hampton and Portsmouth, NH – March 29, 2004 – Fisher Scientific and Apogent Technologies say they have agreed to a merger, in a stock deal Fisher says provides it with a US$1.1 billion footprint in the life sciences market.

The combined company would have 2004 revenues of approximately $5.1 billion and an enterprise value of approximately $9 billion, including $2.7 billion of net debt. The companies say they anticipate the transaction will be completed early in the third quarter of this year.

The announcement "represents a major strategic milestone for our company and will create a more integrated and efficient global supply network for our customers,” says Paul M Montrone, chairman and chief executive officer of Fisher Scientific. “With Apogent Technologies, Fisher Scientific has further enhanced its position in the life-science, scientific-research and clinical-lab markets and created a stronger platform for growth.”

Fisher says it provides scientific equipment and instruments to more than 350,000 customers in about 145 countries. Apogent makes laboratory and life sciences products for health care diagnostics and scientific research. The merger is subject to the approval of the shareholders of both companies, as well as regulatory approvals.