PerkinElmer Euroimmun Purchase in $1.3 Billion Deal

• June 19, 2017
• By Pete Nisbet
• 0

PerkinElmer Euroimmun purchase: PerkinElmer Inc, the analytical instrument and diagnostic tools manufacturer, stated Monday it was to purchase Euroimmun Medical Laboratory Diagnostics AG.  Based in Lubeck, Germany, Euroimmun is a multinational world leader in immunodiagnostic laboratory instruments and reagents. These are used in the investigation of autoimmune diseases, infectious serology and testing allergies.

According to PerkinElmer, the company employs 2,400 people and should generate revenue of around $310 million in 2017. The company stated that it expects the deal to add around $0.28 to $0.30 per share to PerkinElmer’s 2018 adjusted earnings. The company also reaffirmed its revenue and earnings per share forecast for 2017.

PerkinElmer and Hubble

PerkinElmer Inc is based in Waltham Massachusetts. It’s  Danbury Optical System unit was responsible for providing optical components of the Hubble Space Telescope. Things did not sun smoothly with the mirror polishing and the company paid $15 million to avoid a lawsuit over the issue. However, it is still a highly respected firm in the medical and scientific instrumentation and diagnostics field.

The company has been involved in a number of acquisitions over the years. It purchased ArtusLabs and CambridgeSoft in 2011. Both these companies were in the same broad market of providing software for the medical and biotech industries. It also purchased Caliper Life Sciences for $600 million.  This company both competed with and complemented PerkinElmer products.

PerkinElmer Euroimmun Purchase Closed in Last Quarter of 2017

PerkinElmer is a highly respected company worldwide, with subsidiaries in several countries. It operates in 150 countries and is part of the S&P 500 Index. PerkinElmer is to pay around $1.3 billion cash for Euroimmun.

The purpose of the PerkinElmer Euroimmun purchase is to expand its involvement in the allergy and autoimmune diagnostics field. Not only that, but the purchase would also expand the range of infectious disease diagnostics to its Chinese clients.  PerkinElmer expects the deal to be closed in the final quarter of this year.