US-based scientific instruments manufacturer PerkinElmer has completed the purchase of all outstanding shares in German Euroimmun Medical Laboratory Diagnostics for approximately $1.3bn.
The deal strengthens PerkinElmer’s offering in autoimmune and allergy diagnostics sector, and bolsters its presence in growing markets such as China to offer new infectious disease capabilities.
In addition, PerkinElmer’s footprint in the reproductive health segment of the US will facilitate the firm to drive Euroimmun’s solutions into this established channel.
The firms originally reached a definitive agreement for the acquisition in June this year.
PerkinElmer chairman and CEO Robert Friel said earlier: “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.”
The firm’s diagnostics portfolio now includes solutions for reproductive health, autoimmunity, infectious disease, allergy, gene analyses, and genomics for oncology through various instruments, reagents, assay platforms, and software offerings.
Euroimmun specialises in immunology, histology, biochemistry, cell and molecular biology, with a focus on infectious diseases, autoimmune and allergy testing.
The firm has seen an average revenue growth of 19% over the past five years and is estimated to generate up to $310m this year.
Last year, Euroimmun had sales in more than 130 countries, with around 45% of revenues in China, 30% in Europe, Middle East and Africa, 5% in the Americas, and 20% in the remaining markets.