Leerink Swann & Company Initiates Coverage of Thermo Electron (NYSE: TMO)

This morning, Senior Biotechnology Analyst John Sullivan initiated coverage of Thermo Electron Corp. with an Outperform rating. He believes TMO's global reach, new products, strong management and execution should drive expanding market share and operating margins, while the shares sell at an attractive valuation.

About Thermo Electron Corporation

Thermo Electron Corporation (NYSE: TMO) is a provider of analytical instruments, scientific equipment, software, and services for life sciences, drug discovery, clinical, environmental, and industrial laboratories in addition to a range of manufacturing, safety, and homeland security applications. Incorporated in 1956, the company went public in 1967 and was listed on the NYSE in 1980. Based in Waltham, MA, TMO employs approximately 11,000 people in 30 countries and reported 2004 sales of roughly $2.2 billion.

About Leerink Swann & Company

Leerink Swann & Company is an investment banking firm that provides healthcare equity research, corporate finance, and asset management services for institutional and high-net-worth clients. Leerink Swann & Company was voted the Best Firm in Biotechnology, Medical Supplies and Devices, Pharmaceuticals/Major and Pharmaceuticals/Specialty in the December 2004 Institutional Investor poll ranking the best boutique and regional firms by sector. Through its consulting affiliate, MEDACorp, Leerink Swann & Company provides biomedical-consulting services to Life Sciences companies and to the institutional investment community. MEDACorp includes thousands of biomedical professionals and practicing physicians. Leerink Swann & Company is a member NASD/SIPC.

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