NEW YORK (GenomeWeb News) – PerkinElmer said Friday that it has completed its acquisition of the newborn metabolic screening business of Pediatrix Medical Group.
The company announced its plans to acquire the business in December in a bid to expand its presence in the neonatal health market.
The acquisition gives PerkinElmer Pediatrix's screening reference laboratory and its StepOne newborn screening product, which analyzes more than 50 inherited disorders in newborns.
The Pediatrix screening lab offers services to hospitals and medical groups in Maryland, Mississippi, Louisiana, Nebraska, Pennsylvania, and the District of Columbia.
PerkinElmer did not disclose the financial terms of the acquisition, but according to a purchase agreement dated Dec. 18, 2007 and filed with the US Securities and Exchange Commission on Feb. 28 as part of its annual report, PerkinElmer planned to pay $66 million to acquire the business.
PerkinElmer said in December that Pediatrix’s screening business generated revenues of around $15 million in 2007.