Frost & Sullivan Grants Life Science Instrument Company of the Year Award to Thermo Electron

10-Nov-2003

Frost & Sullivan honored Thermo Electron Corporation with its Life Science Instrument Company of the Year Award at last night's 2003 Global Excellence in Healthcare & Life Sciences Awards Banquet. Thermo Electron serves a wide range of industries, with strong emphasis on the drug discovery and life science research markets. Its systems, software, and services enable researchers to efficiently analyze, detect, measure, and control at all stages of the drug discovery process, providing great accuracy and reproducibility. Founded in 1956 by a former MIT professor, Thermo Electron went public in 1967 and is now a world leader in high-tech scientific instruments, with revenues reaching $2 billion in 2002. The company's initial expansion strategy enabled Thermo Electron to acquire as many as 75 companies in 15 years, resulting in a collection of well-known businesses operating under their original company names with hundreds of product brands. To establish greater recognition as a single enterprise, Thermo Electron is commercially integrating its businesses and now operates under two strong brand names -- Thermo and Spectra-Physics. The Thermo brand covers the company's laboratory and industrial instrumentation products -- a segment that generates almost 85 percent of its revenues -- and Spectra-Physics refers to its lasers and photonics offerings. Thermo Electron's early success with commercial integration has placed it in a strong position to make strategic acquisitions that can add further breadth to its product lines and provide complete solutions for customers. For instance, the acquisition of CRS Robotics last year allowed Thermo Electron to automate many of its products for drug discovery research, where high throughput, ease of use, and greater efficiency are critical. More recently, Thermo's pending acquisition of France-based Jouan SA will greatly expand its sample preparation and storage offerings and global distribution channels. "With a strong focus on providing total customer solutions, Thermo's goal is to simplify the way customers interact with the company," says Sinead Igoe, industry analyst with Frost & Sullivan. "One initiative, called the New Labs program, offers researchers virtually everything they need to outfit a lab, from equipment used to prepare and store samples, to systems that analyze the samples, to software that gathers and manages all the data."

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