PerkinElmer to Acquire EUROIMMUN for Approximately $1.3 Billion
News Jun 19, 2017
PerkinElmer has entered into a definitive agreement to acquire EUROIMMUN Medical Laboratory Diagnostics AG. The agreement provides that PerkinElmer will acquire up to a 100% stake in EUROIMMUN. The total purchase price of the transaction based on all outstanding shares being acquired will be approximately $1.3 billion in cash.
Based in Lübeck, Germany, with approximately 2,400 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 last 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 Rest of 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 U.S. 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 thirty years," said Professor Winfried Stöcker, founder and chief executive officer of EUROIMMUN.
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 through its wide range of instruments, reagents, assay platforms and software offerings.
Concept Life Sciences and Alderley Analytical Partner to provide Bioanalytical and DMPK ServicesNews
Companies announced they have signed a partnership agreement to provide high-value bioanalytical and DMPK study services.READ MORE
Study Reveals How MRSA Infection Compromises Lymphatic FunctionNews
Infections of the skin or other soft tissues with the hard-to-treat MRSA bacteria appear to permanently compromise the lymphatic system, which is crucial to immune system function. Investigators describe how MRSA infection impairs the ability of lymphatic vessels to pump lymphatic fluid to lymph nodes in mouse models, which may contribute to the frequent recurrences of MRSA infection experienced by patients.
Possible Biomarker to Identify Who Would Benefit from ImmunotherapyNews
While immunotherapy has made a big impact on cancer treatment, the fact remains that only about a quarter of patients respond to these treatments. In a new study, researchers examined tissue samples from melanoma and ovarian cancer patients treated with immunotherapies and found a link between the percentage of antigen-presenting cells expressing PD-L1 and an objective clinical response to treatment.READ MORE