PerkinElmer announces takeover of Euroimmun

PerkinElmer has agreed a deal to purchase Euroimmun Medical Laboratory Diagnostics, a life science company based in Germany.

Employing around 2,400 members of staff, Euroimmun is a recognised global leader in autoimmune testing, with capabilities spanning the fields of immunology, cell biology, histology, biochemistry and molecular biology.

The $1.3 billion (1.03 billion pounds) deal will expand PerkinElmer's reach in the autoimmune and allergy diagnostic markets, while offering new infectious disease capabilities to customers in China.

Euroimmun is expected to generate approximately $310 million in revenue this year, having experienced an average revenue growth of 19 percent over the last five years. In 2016, the company generated sales in more than 130 countries worldwide.

Robert Friel, chairman and chief executive officer of PerkinElmer, said: "We look forward to working with the Euroimmun team as we partner together to help improve global health through advanced diagnostics."

The acquisition is expected to be finalised during the fourth quarter of the year.

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