PerkinElmer Inc. Archives - Medical Design Sourcing

PerkinElmer divests businesses, becomes life sciences and diagnostics company

PerkinElmer (NYSE:PKI) announced today that it completed a divestiture of its applied, food and enterprise service businesses.

Waltham, Massachusetts-based PerkinElmer divested these businesses to investment firm New Mountain Capital. This results in a new, high-growth life sciences and diagnostics business at PerkinElmer.

According to a news release, the businesses focuses on developing and delivering novel scientific breakthroughs. These developments aim to profoundly impact improving global health, the company said. This new business will share the PerkinElmer name with the divested businesses until at least next quarter.

PerkinElmer expects to unveil a new name, brand and ticker symbol in the second quarter of 2023, subject to shareholder approval.

“Today marks the culmination of the hard work and dedication from PerkinElmer teams around the world to ensure that both new companies are in a position to succeed on day one,” said Prahlad Singh, p…

PerkinElmer rises on Street-beating Q4

PerkinElmer (NYSE:PKI) shares ticked up today on fourth-quarter results that came in ahead of the consensus forecast.

The Waltham, Massachusetts-based company posted profits of $179.2 million, or $1.41 per share, on sales of $1.4 billion for the three months ended Jan. 2, 2022, for a 52.9% bottom-line slide on sales growth of 0.7%.

Adjusted to exclude one-time items, earnings per share were $2.56, 37¢ ahead of Wall Street, where analysts were looking for sales of $1.36 billion.

“The last three years have been a period of positive transformation for the Company, which we accomplished through agility, teamwork and perseverance,” PerkinElmer President and CEO Prahlad Singh said in a news release. “Thanks to these efforts, I believe we are better positioned than ever to serve as a trusted, strategic partner of choice for our customers, while ensuring we create an inspiring and engaging place to work for our employees.”

PerkinElmer said it expects to l…

COVID-19 test makers say their products also detect Omnicron

[Image from Pixabay]Abbott, BD, Hologic, PerkinElmer and Thermo Fisher are reassuring the public that their COVID-19 tests detect the Omnicron variant.

Discovered last week in South Africa, the new variant has enough mutations that it has raised concerns worldwide — even though it is still unknown for sure whether the mutations cause greater transmissibility or vaccine evasion. The United States is among the countries restricting travel from southern Africa for the time being, and the CDC is advising all adults to get a booster shot.

Get the full story on our sister site Medical Design & Outsourcing.

PerkinElmer launches new cloud-based platform for managing workflows

PerkinElmer (NYSE:PKI) announced today that it launched its PKeye workflow monitor for remotely managing and monitoring workflows.

Waltham, Massachusetts-based PerkinElmer’s cloud-based PKeye workflow monitor enables laboratory personnel to remotely handle PerkinElmer instruments and workflows in real-time through 24/7 access and visibility into laboratory operations.

According to a news release, the cloud-based web design and centralized summary dashboard gives authorized users a way to monitor and view real-time status updates, receive notifications, run completion data and view video clips remotely from offices, meetings or home.

The platform informs users of the start, stop and completion of operations through the option to receive notifications via email or SMS. It can also notify users if manual intervention is needed, such as the replenishment of tips or the need to refill reagents.

Instruments are enabled with video recording capabil…

Medtech M&A: The industry’s biggest mergers and acquisitions of 2021

[Image from Jp Valery on Unsplash]Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more.

Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired.

Here are the 10 biggest mergers and acquisitions in medtech in 2021:

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PerkinElmer launches cloud-based research suite for pharmaceutical customers

PerkinElmer (NYSE:PKI) announced today that it launched the Signals Research suite for both pharmaceutical and industrial customers.

Waltham, Massachusetts-based PerkinElmer’s full cloud-based Signals Research suite, deployed on Amazon Web Services (AWS) offers a secure informatics platform with integrated, end-to-end scientific data and workflow management for pharmaceutical and industrial customers.

Get the full story at our sister site, Pharmaceutical Processing World.

FDA grants EUA for PerkinElmer’s combination COVID-19, flu, RSV diagnostic

PerkinElmer (NYSE:PKI) announced today that it received FDA emergency use authorization (EUA) for its PKamp respiratory panel 1 assay.

Waltham, Massachusetts-based PerkinElmer’s PKamp respiratory SARS-CoV-2 RT-PCR panel 1 assay can now be used by qualified laboratories to test for the simultaneous qualitative detection and differentiation of SARS-CoV-2 (the virus causing COVID-19), influenza A, influenza B and respiratory syncytial virus (RSV) isolated from nasopharyngeal swabs, anterior nasal swabs and mid-turbinate swabs.

The company said in a news release that a multi-analyte test such as the PKamp assay allows laboratories to conserve precious resources by avoiding multiple tests on samples collected from individuals suspected of respiratory viral infection consistent with COVID-19.

PerkinElmer also holds CE mark approval for a multi-analyte respiratory panel that tests for COVID-19, as the PKamp assay has clearance to be marketed as an in vitr…

PerkinElmer completes $5.25B acquisition of BioLegend

PerkinElmer (NYSE:PKI) announced that it completed its acquisition of BioLegend for approximately $5.25 billion.

Waltham, Mass.-based PerkinElmer looks to use the acquisition — the largest in the company’s history — to expand its life science franchise into high-growth areas including cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing.

The company in July announced the acquisition of the antibody and reagent developer for approximately $5.25 billion in a combination of cash and stock.

“BioLegend’s stellar leaders, teams and technologies will play a critical role in our combined companies’ ability to provide new, innovative solutions to scientists — helping drive novel therapeutic discovery and development,” PerkinElmer president & CEO Prahlad Singh said in a news release. “We also look forward to BioLegend significantly enhancing our leading reagents portfolio as we pa…

PerkinElmer announces Street-beating Q2, plans to acquire BioLegend for $5.3B

PerkinElmer (NYSE:PKI) today posted Street-beating second-quarter revenues and announced the $5.3 billion acquisition of BioLegend.

The Waltham, Mass.-based company posted profits of $245.9 million, or $2.19 per share, on sales of $1.2 billion for the three months ended July 4, 2021, for a 79.3% bottom-line gain on sales growth of 51.3%.

Adjusted to exclude one-time items, earnings per share were $2.83, 42¢ ahead of Wall Street, where analysts were looking for sales of $1.1 billion. PerkinElmer projected its full-year revenue to total $4.57 billion with adjusted EPS coming in at $9.88 per share.

The company also announced the acquisition of antibody and reagent developer BioLegend for approximately $5.25 billion in a combination of cash and stock.

“The organization continues to perform extremely well through the first half of 2021. Underpinned by the strategic pillars we highlighted at our recent Analyst Day and now the exciting addition of BioLeg…

MedTech 100 roundup: Industry rebounds from massive dip

The medtech industry saw its largest fall in several months last week, but it has rebounded slightly after a couple of bad weeks.

A strong start to 2021 hit a skid at the end of February and carried over into March, with MassDevice‘s MedTech 100 index hitting its lowest point on March 8 (102.16). It had only notched an all-time best of 110.96 on Feb. 15, leading to a precipitous fall not seen since October.

While the heights of last month have not yet been returned to, the industry has shown signs of bouncing back. The index ended the week (March 12) at 104.62, marking a 1.3% rise from the 103.3-point mark set one week before (March 5).

The industry remains in a strong position and one that is particularly stronger than it was at this time a year ago, as the index is now 13.3% up on the pre-COVID-19 pandemic high of 92.32 set on Feb. 19, 2020.

Nearly one year ago, on March 23, 2020, as the pandemic took hold, the industry sat at 62.13 points on th…

PerkinElmer completes Oxford Immunotec acquisition

PerkinElmer (NYSE:PKI) announced today that it completed its previously announced acquisition of Oxford Immunotec.

Under the acquisition agreement announced in January, London-based Oxford Immunotec’s shareholders will be entitled to receive $22 for each outstanding ordinary share, with the terms of the acquisition valuing Oxford Immunotec’s entire issued and to-be-issued ordinary share capital at $591 million.

Get the full story at our sister site, Drug Delivery Business News.

PerkinElmer to acquire Oxford Immunotec

PerkinElmer (NYSE:PKI) and Oxford Immunotec announced today that they agreed to terms under which the former will acquire the latter.

Under the agreement, London-based Oxford Immunotec’s shareholders will be entitled to receive $22 for each outstanding ordinary share, with the terms of the acquisition valuing Oxford Immunotec’s entire issued and to-be-issued ordinary share capital at $591 million, according to a news release.

Get the full story at our sister site, Drug Delivery Business News.