Thermo Fisher Scientific (NYSE:TMO), a leading player in the life sciences industry, is reportedly close to finalizing a deal to purchase clinical-trial technology company Clario for roughly $10 billion, according to the Financial Times, which cited sources familiar with the matter.
An official announcement could come as early as Wednesday, provided that final negotiations are completed without complications, the report noted.
The proposed all-cash transaction would expand Thermo Fisher’s digital capabilities by integrating Clario’s clinical trial management software — a widely used platform that helps pharmaceutical companies collect, analyze, and monitor trial data efficiently.
Clario’s systems have been utilized in over 26,000 clinical studies across more than 100 countries and produce approximately $400 million in annual adjusted earnings, according to the report.
If finalized, the acquisition would represent one of the largest private equity exits of 2025. Formed in 2021 through the merger of ERT and Bioclinica, Clario is currently controlled by Nordic Capital, with Astorg Partners, Novo Holdings, and Cinven among the minority investors.
The deal would further strengthen Thermo Fisher’s position in the digital health and clinical research ecosystem, aligning with its ongoing strategy to combine laboratory services with advanced data-driven technologies.