PerkinElmer completes Caliper Life Sciences takeover

PerkinElmer has completed the purchase of imaging and detection solutions provider Caliper Life Sciences for approximately $600 million (376.2 million pounds).

It announced in September its intent to pay $10.50 per share for the Massachusetts-based company and now plans to integrate the firm's services into its existing research business.

"The acquisition will enhance our ability to provide customers with the complementary technologies, services and knowledge they need to drive innovation," commented Robert Friel, chairman and chief executive officer (CEO) of PerkinElmer.

Meanwhile, former CEO of Caliper Kevin Hrusovsky – who will lead the new collaborative company under the PerkinElmer brand – stated the companies have a shared vision for transforming personalised medicine and giving customers the tools to better understand the origins of disease and how these illnesses can be effectively tackled.

The news follows a reported eight per cent revenue growth in the financial results of PerkinElmer for the third quarter of 2011.

Revenue from continuing operations for the company totalled $454 million, with organic revenue growth of four per cent.