PerkinElmer announced today that it has acquired the remaining half of its mass spectrometry joint venture from Danaher's AB Sciex for an undisclosed amount.
The JV covers inductively coupled plasma mass specs. PerkinElmer now has full ownership of its ICP-MS product line. In a statement, the company said that having sole ownership of the business "will help to ensure the continued success of this technology with a dedicated and fully integrated approach throughout the entire value chain, including R&D, manufacturing, sales, and service."
The JV was originally forged by PerkinElmer and MDS Sciex. When MDS acquired Molecular Devices in 2007 and merged it with the Sciex business to form MDS Analytical Technologies, the Analytical Technologies group assumed the JV.
In September, MDS entered into a deal to sell Analytical Technologies and its half of another mass spec joint venture with Life Technologies Applied Biosystems to Danaher for $650 million.
In December, PerkinElmer filed legal action to block the sale of MDS' half of their JV to Danaher. The JV required MDS to get PerkinElmer's approval on such a deal, which it did not provide. In January, though, PerkinElmer and MDS reached a settlement, freeing MDS to sell Analytical Technologies and its half of the JV to Danaher [See PM 01/29/10].
The sale was completed earlier this month and the JV was assumed by AB Sciex, formed to house the mass spec assets Danaher acquired from MDS and Life Tech. An AB Sciex spokesman referred a request for comment to Danaher, which did not respond.
John Roush, president of Environmental Health for PerkinElmer, said the deal "will reinforce our market leadership while further demonstrating our commitment to the ICP-MS product line and the sustained development of this critical technology."