PerkinElmer to buy medical diagnostics company

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  • Published: Jun 23, 2017
  • Source: PerkinElmer
  • Suppliers: PerkinElmer
  • Channels: Laboratory Informatics / HPLC / Proteomics & Genomics / Gas Chromatography / Electrophoresis / Ion Chromatography / Sample Preparation / Detectors / Proteomics / Base Peak / Raman / Atomic / Chemometrics & Informatics / X-ray Spectrometry / NMR Knowledge Base / MRI Spectroscopy / UV/Vis Spectroscopy / Infrared Spectroscopy

PerkinElmer has entered into a definitive agreement to acquire EUROIMMUN Medical Laboratory Diagnostics for approximately $1.3 billion in cash.

Based in Lübeck, Germany, with approximately 2400 employees, EUROIMMUN is widely recognized as a global leader in autoimmune testing and an emerging force in infectious disease and allergy testing. The company has extensive expertise and capabilities across immunology, cell biology, histology, biochemistry and molecular biology. EUROIMMUN is expected to generate approximately $310 million in revenue this year, and over the past five years the company has averaged revenue growth of 19%. In 2016, the company generated sales in more than 130 countries worldwide, with approximately 45% of revenues in China, 30% in Europe, Middle East & Africa, 5% in the Americas and 20% in the rest of the world.

The acquisition combines two innovative, results-driven cultures with a shared mission of improving global health. The combination expands PerkinElmer’s reach into autoimmune and allergy diagnostic markets, while offering new infectious disease capabilities to customers in China. In addition, as a market leader in the US for reproductive health, PerkinElmer will have the opportunity to drive EUROIMMUN’s solutions into this well-established channel.

“With the acquisition of EUROIMMUN and its talented team of professionals, we are able to leverage our combined advanced detection, imaging and assay development capabilities, along with our strong collective market positions and synergistic commercial activities, to deliver better and more complete solutions to our customers around the world,” said Robert Friel, chairman and chief executive officer of PerkinElmer. “We look forward to working with the EUROIMMUN team as we partner together to help improve global health through advanced diagnostics.”

“I am delighted to entrust EUROIMMUN to PerkinElmer, a company I believe shares our important mission and will secure the continuity of our culture and tradition of innovation that we have developed over the last 30 years,” said Winfried Stöcker, founder and chief executive officer of EUROIMMUN.

Through its wide range of instruments, reagents, assay platforms and software offerings, PerkinElmer’s comprehensive global diagnostics portfolio will now include solutions focused on: reproductive health; autoimmune, infectious disease and allergy testing; gene analyses; and genomics offerings for oncology and other molecular tests.

The transaction is subject to customary closing conditions and is currently anticipated to close in the fourth quarter of 2017 following the receipt of required standard regulatory approvals.

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