PerkinElmer increases diagnostic capacities with acquisition of EUROIMMUN for $1.3 billion

23 Jun 2017

Written by Amy Craddock, Future Science Group

Collaborations and mergers Diagnostics News

PerkinElmer (MA, USA) announced on Monday (19 June) that the company has entered into a definitive agreement to acquire the German based company EUROIMMUN Medical Laboratory Diagnostics (Lübeck, Germany) for $1.3 billion. EUROIMMUN currently employs approximately 2400 individuals worldwide and specializes in autoimmune, infectious disease and allergy testing.

The acquisition is due to complete in the fourth quarter of 2017 and is expected to increase PerkinElmer’s 2018 adjusted earnings by approximately $0.28–$0.30 per share. The expected increase in revenue and earnings growth is attributed to the increased reach into the autoimmune and allergy diagnostic market, in addition to enhancing new infectious disease capabilities in China.

In a press release, Chairman and Chief Executive Officer of PerkinElmer, Robert Friel stated: “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.”

He concluded, “we look forward to working with the EUROIMMUN team as we partner together to help improve global health through advanced diagnostics.”

Founder and Chief Executive Officer of EUROIMMUN, Winfried Stöcker added: “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.”

View below an exclusive comment from Prahlad Singh, Senior Vice President and President, Diagnostics, PerkinElmer.