PerkinElmer (NYSE:PKI) has closed its $1.3 billion deal to buy Euroimmun Medical Laboratory Diagnostics, the scientific instrument-maker reported today.
The acquisition, first announced in June, involves Euroimmun’s 2,400 employees and autoimmune testing solutions. The move helps to expand PerkinElmer’s footprint in autoimmune and allergy diagnostic markets.
PerkinElmer also reportedly plans to bring Euroimmun’s tech into its well-established reproductive health market in the U.S.
This year, Euroimmun is slated to bring in $310 million in revenue. The company reported sales in more than 130 countries last year, with nearly half of revenues in China and 30% in Europe, Middle East & Africa.
“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,” Robert Friel, chairman & CEO of PerkinElmer, said in prepared remarks when the deal was first announced.
“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,” Winfried Stöcker, founder & CEO of Euroimmun, added.
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