Assuming quality stock selection, growth investing has the potential to make investors quite wealthy over time. Investors needn't look any further than the healthcare giant Thermo Fisher Scientific (NYSE: TMO): A $5,000 investment in the stock made only five years ago would now be worth $11,890 with dividends reinvested. For perspective, that is significantly more than the $8,645 that the same investment in the S&P 500 index would be valued at today with dividends reinvested.

If an investment can more than double in a five-year period, imagine what's possible over 20- or 30-plus years. Keeping in mind that past performance is no guarantee of future growth, is Thermo stock a buy for growth investors in the years ahead? Let's examine the company under the proverbial microscope to render a judgment.

Pharmaceutical companies are trying to tackle some of the most challenging diseases of our time. And without the likes of Thermo Fisher Scientific, the progress that is being made wouldn't be possible. That is because the company's lab equipment -- such as gene analyzer devices and centrifuges -- are vital to the groundbreaking research that is being conducted by pharma companies.

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Source Fool.com