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Thermo Fisher Scientific (Waltham, Massachusetts) reported that has agreed to acquire Biolab (Sydney) for A$175 million ($120 million). It will be integrated into Thermo Fisher's Laboratory Products and Services Segment.

Biolab, the scientific and medical division of Alesco (Sydney, Australia), provides analytical instruments, life science consumables and laboratory equipment for scientific, environmental and healthcare markets in Australia and New Zealand.

Thermo Fisher said that the purchase is expected to be completed on April 30, Thermo Fisher noted.

"As the premier commercial channel in Australia, New Zealand and the South Pacific, Biolab offers a broad portfolio of products and services to support Thermo Fisher's continued growth in the region," said Marijn Dekkers, president/CEO of Thermo Fisher. She said that the acquisitions "This acquisition significantly strengthens our presence in these markets, and will enable us to better serve customers in both public and private sectors through an expanded range of offerings."

Biolab has reported having annual revenues of about A$170 million ($120 million).

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