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PerkinElmer Completes $600M Caliper Acquisition

NEW YORK (GenomeWeb News) – PerkinElmer today completed its acquisition of Caliper Life Sciences for $10.50 per share, valuing the deal at around $600 million.

The purchase, announced in September, provides PerkinElmer with Caliper's portfolio of imaging, microfluidics, automation, and sample preparation platforms and technologies and is expected to extend PerkinElmer's reach into the life sciences research space.

Additionally, Caliper has made a recent push into the next-generation sequencing space and molecular diagnostics market a priority, areas that PerkinElmer have also recently targeted.

In a statement today, Robert Friel, chairman and CEO of PerkinElmer, said that the acquisition "will further strengthen PerkinElmer's position in personalized medicine … and enhance our ability to provide customers with the complementary technologies, services, and knowledge they need to drive innovation from in vivo to in vitro imaging, and provide expanded offerings across our biomedical, diagnostics, environmental, and food safety end-markets."

Kevin Hrusovsky, who had been Caliper's CEO, will now take on the role of president of life sciences and technology for PerkinElmer, where he will head a newly combined $500 million business, "which integrates the former Caliper organization with PerkinElmer's existing research business," Friel said.

The former Caliper business will be housed in PerkinElmer's Human Health segment.

On Thursday PerkinElmer reported that its third-quarter revenues increased 8 percent year over year. Also last week, Caliper said revenues for its third quarter rose 24 percent year over year.

In mid-afternoon trading, shares of PerkinElmer were up 2 percent at $19.89 on the New York Stock Exchange.