SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   SCHEDULE TO

                                 (Rule 14d-100)

            TENDER OFFER STATEMENT UNDER SECTION 14(d)(1) OR 13(e)(1)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                           THERMO ELECTRON CORPORATION
                            (Name of Subject Company)

                           THERMO ELECTRON CORPORATION
                                    (Offeror)

          Units, Each Consisting of a Fractional Share of Common Stock,
               $1.00 Par Value per Share, and One Redemption Right
                         (Title of Class of Securities)

                                   883624 20 7
                      (CUSIP Number of Class of Securities)

                             Seth H. Hoogasian, Esq.
                                 General Counsel
                           Thermo Electron Corporation
                                 81 Wyman Street
                        Waltham, Massachusetts 02454-9046
                                 (781) 622-1000

   (Name, Address and Telephone Number of Person Authorized to Receive Notices
                 and Communications on Behalf of Filing Persons)

                                 with a copy to:

                              Megan N. Gates, Esq.
               Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
                              One Financial Center
                           Boston, Massachusetts 02111
                                 (617) 542-6000









                            CALCULATION OF FILING FEE

Transaction  Valuation:  Filing relates  solely to preliminary  communications
made before the commencement of a tender offer.
Amount of Filing Fee: None.
- ---------------------------------------

[ ]  Check  the  box if any  part  of the  fee is  offset  as  provided  by Rule
0-11(a)(2)  and identify the filing with which the offsetting fee was previously
paid. Identify the previous filing by registration statement number, or the Form
or Schedule and the date of its filing.

        Amount Previously Paid:              Not applicable
        Form or Registration No.:            Not applicable
        Filing Party:                        Not applicable
        Date Filed:                          Not applicable

[X] Check the box if the filing  relates  solely to  preliminary  communications
made before the commencement of a tender offer.

        Check the appropriate boxes below to designate any transactions to which
the statement relates:

        [ ] third-party tender offer subject to Rule 14d-1.

        [X] issuer tender offer subject to Rule 13e-4.

        [X] going-private transaction subject to Rule 13e-3.

        [ ] amendment to Schedule 13D under Rule 13d-2.

        Check the following box if the filing is a final  amendment  reporting
the results of the tender offer: [ ]





Notice of Commencement of Redemption Period:

                 NOTICE OF COMMENCEMENT OF REDEMPTION PERIOD

   UNITS ORIGINALLY ISSUED BY THERMOLASE CORPORATION AND ASSUMED BY THERMO
                              ELECTRON CORPORATION

TO THE  HOLDERS OF UNITS  CONSISTING  OF  REDEMPTION  RIGHTS  AND COMMON  STOCK,
ORIGINALLY ISSUED BY THERMOLASE CORPORATION:

      Thermo Electron  Corporation  ("Thermo  Electron")  hereby notifies record
holders of the Units originally issued by ThermoLase Corporation  ("ThermoLase")
on April 3,  1997,  that a  Redemption  Period  with  respect  to the Units will
commence on April 3, 2001 and continue  until 5:00 p.m.,  New York City time, on
April 30, 2001. The  obligations  of ThermoLase  under the Units were assumed by
Thermo  Electron  in  connection  with the  merger  of  ThermoLase  with  Thermo
Electron,  which was effected on August 14, 2000,  pursuant to an Agreement  and
Plan  of  Merger  by  and  among  Thermo  Electron,  ThermoLase  and  ThermoLase
Acquisition Corporation dated as of December 14, 1999.

      During the Redemption Period, holders of Units may require Thermo Electron
to redeem the Units for an amount of cash equal to $20.25 per Unit.

      Once the Redemption Period commences, holders of Units may surrender
them for redemption at the offices of the transfer agent for the Units,
American Stock Transfer & Trust Company, at the following address: 40 Wall
Street, 46th Floor, New York, New York 10005, Attention: Reorganization
Department.

      Pursuant to the terms of the Units,  upon the expiration of the Redemption
Period at 5:00 p.m., New York City time, on April 30, 2001, holders of Units who
have not  presented  the Units for  redemption  will  thereafter  be entitled to
receive 0.132 of a share of Thermo  Electron  common stock,  $1.00 par value per
share (the "Thermo Electron Common Stock") for each Unit that is not surrendered
for redemption,  and the redemption  right  applicable to such fractional  share
will cease to exist.  As of March 1, 2001,  based on the closing price per share
of the Thermo  Electron  Common Stock on the New York Stock  Exchange of $27.90,
this  fraction  (0.132)  of a share of Thermo  Electron  Common  Stock was worth
$3.68.

As of March 2, 2001, there are 379,873 Units outstanding.

Thermo Electron Corporation,
as successor to ThermoLase Corporation

Date: March 2, 2001

The Redemption  Period  described in this notice has not  commenced.  Holders of
Units  may not  tender  them to the  Company  prior to the  commencement  of the
Redemption  Period on April 3, 2001. Prior to the commencement of the Redemption
Period, we will file a Schedule TO with the Securities and Exchange  Commission.
You  should  read the  Schedule  TO when it  becomes  available  because it will
contain  important  information  regarding your rights under the Units.  We will
send record  holders a copy of the Schedule  TO. In  addition,  once it is filed
with the  Commission,  you can obtain without charge the Schedule TO from Thermo
Electron's  Investor  Relations  Department  by calling  781-622-1111  or at the
Commission's web site at http:www.sec.gov.