Sign up for the QMED & MD+DI Daily newsletter.
PerkinElmer Steps into Its New Identity with Divestiture
The Waltham, MA-based company has now fully divested its Applied, Food, and Enterprise Services businesses to New Mountain Capital.
March 15, 2023
1 Min Read
Image credit: bankrx/ iStock via Getty Images
PerkinElmer has now fully-divested its Applied, Food, and Enterprise Services businesses to New Mountain Capital, a growth-oriented investment firm for $2.45 billion. That means the Waltham, MA-based company is now a Life Sciences and Diagnostics firm.
The Life Sciences and Diagnostics units will continue under the PerkinElmer brand while the divested units will have a new name. PerkinElmer first announced the separation in August of 2022.
“As we look ahead, our new Life Sciences and Diagnostics organization has an immense opportunity to continue to lead with science to redefine human health, Prahlad Singh, president and CEO PerkinElmer. I’m looking forward to sharing our new name and brand in the near future.”
The company’s two core business areas, Life Sciences and Diagnostics, are uniquely positioned to help drive scientific innovation impacting human health.
Within Life Sciences, the company is focused on supporting pharmaceutical and academic scientific advancement from the earliest stage of discovery all the way to entering the clinic. In Diagnostics, the Company continuously develops new assays, systems, and complete workflows to help better diagnose disease throughout the continuum of care of human health across all lab settings.
PerkinElmer is about two years removed from making one of its largest acquisitions. In 2021, the company said it was acquiring BioLegend for $5.25 billion. The acquisition expanded the firm’s existing life science franchise into new segments, and BioLegend's San Diego, CA campus became PerkinElmer’s global Center of Excellence.
About the Author(s)
You May Also Like
Sustainable Manufacturing Expo Hits North AmericaFeb 22, 2024|4 Min Read
Medtronic Doubles Down on Sustainability EffortsFeb 22, 2024|1 Min Read
Top Medical Device M&AFeb 21, 2024|1 Min Read
FDA Urges Independent Verification of Third-Party Testing DataFeb 21, 2024|2 Min Read