Featured Company News – PerkinElmer Announces Acquisition of EUROIMMUN; Set To Expand its Autoimmune Testing Portfolio

Research Desk Line-up: Alere Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 21, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Perkinelmer Inc. (NYSE: PKI), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PKI. The Company announced on June 19, 2017, that it has entered into a definitive agreement with EUROIMMUN Medical Laboratory Diagnostics, AG, pursuant to which PerkinElmer will acquire up to a 100% stake in EUROIMMUN, where it will pay about $1.3 billion for the acquisition, in an all-cash transaction. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Medical Laboratories & Research industry. Pro-TD has currently selected Alere Inc. (NYSE: ALR) for due-diligence and potential coverage as the Company announced on June 14, 2017, its financial results for Q1 2017 which ended on March 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on Alere when we publish it.

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The Announcement

The acquisition is set to combine two innovative, results-driven Companies with the primary goal of elevating the levels of global health. The agreement expands PerkinElmer’s reach into autoimmune and allergy diagnostic markets while delivering new infectious disease capabilities to customers in China. Additionally, acting as a market leader in the US for reproductive health, PerkinElmer will have the option to expand EUROIMMUN’s solutions into the concerned segment.

EUROIMMUN, based in Lubeck, Germany is a leading autoimmune testing firm and an emerging Company in infectious disease and allergy testing. The Company holds expertise across different segments, including, immunology, cell biology, histology, biochemistry, and molecular biology. Over the last 5 years, the Company’s average revenue growth was about 19% y-o-y, while it expects to generate about $310 million in revenues this financial year. In 2016, the Company generated sales from more than 130 countries, with about 45% revenues in China, 30% in Europe, Middle-East & Africa, 5% in America, and 20% in other nations.

PerkinElmer views this acquisition as a step to leverage its combined advanced detection, imaging, and assay development capabilities, along with strong collective market positions and synergistic commercial activities, to deliver robust and complete solutions to customer around the world. Post the acquisition, PerkinElmer’s global diagnostics portfolio will include solutions focused on, reproductive health, autoimmune, infectious disease, and allergy testing; gene analyses, and genomic offerings for oncology and other molecular tests through a wide range of instruments, reagents, assay platforms, and software earnings.

PerkinElmer Growth Prospects

PerkinElmer is a leading medical diagnostics and analytics firm, with a dedicated team of 9,000 professionals employed across more than 150 countries. The Company reported net revenues of about $2.1 billion in FY16. PerkinElmer, in the last 2 years, has focused its strategy on development into key markets. Under its unified business strategy, the Company sold its Medical Imaging Business to Varex Imaging Corporation (NYSE: VREX) on May 01, 2017. Under Medical Imaging segment, the Company supplied flat panel X-ray detectors that serve as components for industrial, medical, and dental X-ray imaging systems.

Prior to the announcement, on April 25, 2016, the Company sold its NTD Laboratory Services business to Eurofins Scientific. PerkinElmer viewed this agreement as a divestiture of NTD business, hence allowing the Company to concentrate its efforts on developing innovative maternal-fetal health technologies and solutions for the US.

The Company recently expanded its footprint in Asia through the acquisition of Tulip Diagnostics Private Ltd on January 09, 2017, for an undisclosed amount. Tulip Diagnostics, based in Goa, India, is one of the nation’s largest domestic providers of in-vitro diagnostic reagents, kits and instruments to an expansive customer base of diagnostics labs and government and private healthcare facilities.

Last Close Stock Review

PerkinElmer’s share price finished yesterday’s trading session at $68.10, slightly up 0.55%. A total volume of 1.06 million shares have exchanged hands, which was higher than the 3-month average volume of 614.32 thousand shares. The Company’s stock price surged 18.91% in the last three months, 26.42% in the past six months, and 28.13% in the previous twelve months. Additionally, the stock soared 30.58% since the start of the year. Shares of the Company have a PE ratio of 33.20 and have a dividend yield of 0.41%. The stock currently has a market cap of $7.53 billion.

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