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PerkinElmer To Acquire UK-Based In-Vitro Diagnostics Company For $155M

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  • PerkinElmer Inc (NYSE: PKI) has agreed to acquire the U.K.-listed Immunodiagnostic Systems Holdings Plc's (IDS) in an all-cash transaction of approximately $155 million (£110 Million).

  • The transaction has a total enterprise value of approximately $124 million (£88 Million) and is expected to close early in the third quarter of 2021.

  • Through this acquisition, PerkinElmer could grow its immunodiagnostics segment and the overall Diagnostics business.

  • IDS' portfolio will integrate within Euroimmun, a PerkinElmer company, since 2017. It provides autoimmune testing and is an emerging force in infectious disease, allergy, and molecular genetic testing.

  • Headquartered in Boldon, the United Kingdom, IDS is a provider of in-vitro diagnostic solutions and has 300 global employees.

  • In terms of financial impact, PerkinElmer expects the acquisition to be modestly accretive to non-GAAP earnings in year one following the close.

  • Last week, PerkinElmer announced to acquire Nexcelom Bioscience for 0 million, to expand its capabilities in cell biology.

  • Price Action: PKI shares closed at $143.56 on Friday.

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