PerkinElmer has entered an agreement to acquire UK-based in-vitro diagnostics company Immunodiagnostic Systems (IDS) for approximately $155m (£110m) in cash.
The deal will aid PerkinElmer to expand its overall diagnostics business and immunodiagnostics division.
Through the acquisition, PerkinElmer’s testing abilities will also be combined with IDS’ chemiluminescence products across endocrinology, autoimmunity and infectious diseases areas.
IDS’ portfolio will complement Euroimmun, a PerkinElmer company that develops autoimmune, infectious disease, allergy and molecular genetic tests.
Euroimmun CEO Wolfgang Schlumberger said: “This proposed transaction is highly valuable for both parties as the respective product lines are to a large extent complementary.
“The cooperation of our global distribution channels, the expansion of the immunoassay portfolio in closely related indication fields, and IDS’s fully automated random access chemiluminescence platform strengthens our presence in immunodiagnostics.”
IDS produces and commercialises immunoassays and automated immunoanalyser technologies to offer enhanced diagnostic outcomes for people.
With 300 employees globally, the company’s immunoassay portfolio comprises endocrinology speciality testing and assay panels in complementary areas.
PerkinElmer noted that the transaction, with a total enterprise value of approximately $124m (£88m), is anticipated to conclude in the third quarter of this year on receiving necessary approvals.
PerkinElmer has also signed an agreement to acquire US-based image cytometry products developer Nexcelom Bioscience for $260m in cash.
The Nexcelom acquisition is slated to complete in the second quarter of this year.
PerkinElmer president and CEO Prahlad Singh said: “We are looking forward to bringing Nexcelom’s expertise and technologies in drug development together with our passion and solutions for drug discovery.
“This combination will expand our efforts to help academic, government and biopharmaceutical organisations streamline their complete workflows and support efforts to accelerate time to target and time to market for novel therapies.”
Earlier this year, PerkinElmer reached a $591m agreement to acquire UK-based diagnostics company Oxford Immunotec.