PerkinElmer Gets Ready for Its Largest Deal Ever

The $5.25 billion acquisition of BioLegend has potential benefits for PerkinElmer's diagnostics franchise.

Amanda Pedersen

July 26, 2021

2 Min Read
PerkinElmer to acquire BioLegend
Image by Vitalii Vodolazskyi - Adobe Stock

PerkinElmer just announced a deal that, if all goes according to plan, will be the company's largest transaction to date at $5.25 billion. 

The acquisition target is BioLegend, a private company that provides academic and biopharmaceutical customers with antibodies and reagents in high-growth areas such as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation, and bioprocessing. The deal is expected to close by the end of the 2021 calendar year, subject to regulatory approvals and other customary closing conditions.

PerkinElmer said the acquisition will expand its existing life science franchise into new segments, and BioLegend's San Diego, CA campus will become PerkinElmer’s global Center of Excellence for research reagent content development for the combined company. BioLegend has more than 700 employees based primarily in the United States, with estimated 2022 revenues of $380 million.

Waltham, MA-based PerkinElmer said the deal presents a commercial synergy opportunity to accelerate the company's life science growth with potential benefits for its diagnostics franchise. It also represents PerkinElmer's fourth acquisition since early May.

The company recently acquired Sirion Biotech, a German company that provides viral vector-based technologies for use in cell and gene therapies, for an undisclosed amount; Lawrence, MA-based Nexcelom Bioscience, which makes automated cell-counting and imaging instruments, for $260 million, and Boldon, UK-based Immunodiagnostic Systems (IDS), for $155 million.

The COVID-fueled M&A activity trend

As MD+DI has reported on previously, companies that have played a big role in developing COVID-related tests appear to be quite active on the M&A trail this year. 

Thermo Fisher Scientific announced in January that it would acquire Mesa Biotech for about $450 million in cash with the potential for $100 million.

Hologic has been incredibly acquisitive this year, first with the acquisition of Somatex and Biotheranostics, followed by Diagenode, and the recently-closed Mobidiag Oy deal. Kevin Thornal, president of Hologic's diagnostic solutions business, spoke with MD+DI Editor-in-Chief Daphne Allen earlier this year about the company's efforts to expand the reach of its diagnostics offerings and more. Listen to their conversation by clicking the "play button" below.



About the Author(s)

Amanda Pedersen

Amanda Pedersen is a veteran journalist and award-winning columnist with a passion for helping medical device professionals connect the dots between the medtech news of the day and the bigger picture. She has been covering the medtech industry since 2006.

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