PerkinElmer, Inc. announced that the Company has completed its previously announced acquisition of Oxford Immunotec Global PLC (Oxford Immunotec). PerkinElmer originally announced its intent to acquire Oxford Immunotec on January 7, 2021. “Oxford Immunotec’s global role in fighting tubercul ... more
PerkinElmer to Acquire In-Vitro Diagnostics Company
Endocrinology testing specialist expands PerkinElmer’s immunodiagnostics segment
PerkinElmer, Inc. and Immunodiagnostic Systems Holdings PLC (IDS) announced that they have reached an agreement on the terms of a recommended all cash offer whereby PerkinElmer will acquire IDS for approximately $155 million (£110 Million). The transaction has a total enterprise value of approximately $124 million (£88 Million) and is expected to close early in the third quarter of 2021, subject to approvals from the shareholders of IDS, sanction by the High Court of Justice in England and Wales and other customary closing conditions for a public takeover in the United Kingdom.
Through this acquisition, PerkinElmer will be able to grow its overall Diagnostics business and specifically its immunodiagnostics segment. Moreover, the deal will enable PerkinElmer to combine its channel expertise and testing capabilities with IDS’s best-in-class chemiluminescence products in endocrinology, autoimmunity and infectious diseases to better serve customers around the world.
IDS’s portfolio and expertise will seamlessly integrate within EUROIMMUN, a PerkinElmer company since 2017. Wolfgang Schlumberger, CEO of EUROIMMUN, remarked, “This proposed transaction is highly valuable for both parties as the respective product lines are to a large extent complementary. The cooperation of our global distribution channels, the expansion of the immunoassay portfolio in closely related indication fields and IDS's fully automated random access chemiluminescence platform strengthens our presence in immunodiagnostics. Our customers will benefit from a broader range of assays and laboratory diagnostic workflows. We are excited about these new opportunities and we look forward to welcoming Immunodiagnostic Systems into the PerkinElmer family following the completion of the transaction.”
Headquartered in Boldon, the United Kingdom, IDS is a leading in-vitro diagnostic solution provider to the clinical laboratory market. IDS develops, manufactures, and markets innovative immunoassays and automated immunoanalyzer technologies to provide improved diagnostic outcomes for patients. IDS’s immunoassay portfolio is a combination of an endocrinology specialty testing menu and assay panels in complementary fields. IDS has approximately 300 global employees.
PerkinElmer's comprehensive global diagnostics portfolio includes solutions focused on: reproductive health; autoimmune, infectious disease and allergy testing; gene analyses; and genomics offerings for oncology and other molecular tests through its wide range of instruments, reagents, assay platforms and software offerings.
In terms of financial impact, PerkinElmer expects the acquisition to be modestly accretive to non-GAAP earnings in year-one following the close, and PerkinElmer forecasts IDS’s business to be attractively positioned in markets that are projected to grow at a compound annual growth rate of high-single digits over the next few years.
- Immunodiagnostic Systems
- in-vitro diagnostics
PerkinElmer, Inc. announced that the U.S. Food and Drug Administration (FDA) has provided Emergency Use Authorization (EUA) for the Company’s New Coronavirus RT-PCR test. Clinical laboratories certified under Clinical Laboratory Improvement Amendments (CLIA) can immediately begin using this ... more
PerkinElmer, Inc. announced that after a career of more than 20 years at the Company, including the last 12 years as chief executive officer, Robert F. Friel, has decided to retire as chairman and CEO and member of the board of directors as of the end of the Company’s fiscal year on Decembe ... more
- 1Detect neurodegenerative diseases such as Alzheimer's by a simple eye scan?
- 2Fluorescence microscopy at highest spatial and temporal resolution
- 3The Mechanics of the Immune System
- 4Resolve Biosciences Launches New Era in Single-Cell Spatial Analysis
- 5Quick look under the skin
- 6New ion trap to create the world's most accurate mass spectrometer
- 7How does your computer smell?
- 8Clocking electron movements inside an atom
- 9Sartorius closes 2020 with strong growth
- 10A clear path to better insights into biomolecules
- Eppendorf AG completes conversion to European public limited company
- Tailor-made X-rays for research and development
- KRÜSS moves forward in Spanish market by selling directly
- Laboratory specialist KNAUER receives "Grand Prize for Medium-Sized Businesses"
- Tecan successfully completes the acquisition of Paramit
- Scientists discover how bacteria use liquid protein droplets to overcome stress
- New tool can identify harmful blue-green algae
- New deep learning algorithm can pick up genetic mutations and DNA mismatch repair deficiency in colorectal cancers more efficiently
- Scientists gain new understanding of how brain cells talk
- Ageing the unageable