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…