Waters

Waters said the acquisition is part of a strategy to develop simpler, more streamlined mass spec workflows that will be accessible to non-expert users.

The company posted Q2 revenues of $596.2 million, up from $558.3 million in Q2 2017, short of the average Wall Street estimate of $598 million.

As part of the deal, Waters has also placed a Synapt G2-Si mass spec instrument at Purdue University to help advance research applications for DESI.

Major releases were relatively sparse at ASMS as many vendors focused instead on the development of applications and workflows for their existing platforms.

Positive first quarter earnings reports lifted many stocks of life science tools firms even as the broader biotechnology market suffered.

Organic revenues were up 2 percent, as the company saw solid demand among its pharma customers but a decline in sales of its mass spectrometry instruments.

Driven by strong pharma sales, the company's revenues rose to $687 million from $629 million in Q4 2016, besting the consensus analyst estimate of $669 million.

Developed by researchers at the University of Michigan, the software could help drive uptake of ion mobility mass spec within the top-down proteomics field.

The company entered an agreement with JP Morgan Chase that provides a five-year unsecured $300 million term loan and a $1.5 billion revolving facility.

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