|Core Informatics CEO: Gabelle wants to "accelerate the digital lab."
BRANFORD: Core Informatics one of Connecticut’s fastest growing technology companies has been purchased by Thermo Fisher Scientific Inc., [NYSE THMO] a diversified global technology and science company with more than 55,000 employees and $18 billion in sales.
Core Informatics founded in 2006, the company was listed by Deloitte at 469 on its 2016 Tech Fast 500 list among US companies for its 130 percent cent growth rate. Core informatics provides “laboratory data management solutions to biopharma, genomics, and other scientific organizations.”
For nearly its first decade the company “bootstrapped” growth, in 2014 the management team put their foot on the accelerator raising $ 5 million to fuel growth, a year later it raised another $17 million, its then 65 employees swelled to the current 100.
In 2015 Fierce biotech a tech news website, cited Thermo Fisher, and Abbot [NYSE: ABT] as giant competitors of the fast growing company’s effort to “integrate the various pieces of software that make up a lab in 2015 and offer the package as either a hosted or on-premises package.”
Josh Geballe, Core's CEO, told the news site that the giants were not keeping up saying, “we hear from a lot of clients that they feel very underserved by the lack of innovation that has gone on over the past few years in this space."
Apparently one of those giants agreed, Thomas Loewald, senior vice president and chief commercial officer of Thermo Fisher, explained the core attraction saying, “the scientific community is rapidly adopting cloud-based laboratory and scientific data management capabilities,” adding “integrating the leading technologies of Core Informatics is part of our strategy to set the standard for digital science solutions, from life sciences discovery to applied markets and manufacturing.”
Geballe said the group was happy to hook up with the resources of one of the giants, saying “we are thrilled to join the Thermo Fisher Scientific team to help accelerate the future of the digital lab,” adding “we’re excited to become part of the world leader in serving science.”