The acquisition of IDS will allow PerkinElmer to expand its overall diagnostics business and mainly immunodiagnostics segment
PerkinElmer has agreed to acquire in-vitro diagnostics company IDS. (Credit: Belova59 from Pixabay)
PerkinElmer has agreed to acquire UK-based in-vitro diagnostic (IVD) solutions provider Immunodiagnostic Systems Holdings (IDS) for around $155m.
Based in Boldon, IDS is engaged in the development, manufacturing and marketing of IVD tests for customers in the clinical laboratory market.
The company offers immunoassays and automated immunoanalyser technologies, which will help enhance diagnostic outcomes for patients.
IDS operates an automated IVD business unit that provides an analyser, which automates almost all steps need to conduct a test using their kits.
The company’s manual IVD business unit markets assay kits, while its licencing and technology unit monetises the technology and know-how that it owns via original equipment manufacturer partners.
IDS’ portfolio and expertise is said to be suitable for integration with EUROIMMUN, a PerkinElmer company that offers autoimmune, infectious disease, allergy and molecular genetic testing services.
EUROIMMUN CEO Wolfgang Schlumberger said: “This proposed transaction is highly valuable for both parties as the respective product lines are to a large extent complementary.
“The cooperation of our global distribution channels, the expansion of the immunoassay portfolio in closely related indication fields and IDS’s fully automated random access chemiluminescence platform strengthens our presence in immunodiagnostics.”
The acquisition of IDS is expected to allow PerkinElmer to expand its overall diagnostics business and mainly immunodiagnostics segment.
The transaction will also allow PerkinElmer to integrate its channel expertise and testing capabilities with IDS’ chemiluminescence products in endocrinology, autoimmunity and infectious diseases.
Subject to approvals from the shareholders of IDS, sanction by the High Court of Justice in England and Wales and other customary closing conditions, the deal is expected to be completed early in the third quarter of this year.
The deal is said to have a total enterprise value of around $124m.
Recently, PerkinElmer has agreed to acquire Massachusetts-based Nexcelom Bioscience to expand its cell biology capabilities.