NEW YORK (GenomeWeb News) — PerkinElmer said today it has closed the acquisition of ViaCell, an umbilical cord blood preservation business, for around $300 million, or $7.25 a share.
ViaCell collects and stores stem cells from newborns’ umbilical cords that might be of medical use by the child or a relative. PerkinElmer expects the company’s flagship ViaCord technology to complement its current prenatal screening tools for the risk of chromosomal abnormalities.
PerkinElmer, which first announced its plan to buy the company last month, reiterated its intent to continue selling and supporting ViaCord while divesting the ViaCell therapeutic business.
Sales of ViaCord in 2007 are expected to be around $60 million, PerkinElmer said.