Pharma Focus Europe

PerkinElmer Completes Divestiture of its Applied, Food and Enterprise Services Businesses

Wednesday, March 15, 2023

PerkinElmer Inc., today announced that it has successfully completed the previously announced divestiture of its Applied, Food and Enterprise Services businesses to New Mountain Capital, a growth-oriented investment firm.

The resulting new, high-growth Life Sciences and Diagnostics business, focused on developing and delivering novel scientific breakthroughs that will have a profound impact on improving global health, will share the PerkinElmer name with the Applied, Food and Enterprise Services businesses until a new name, brand and ticker symbol is unveiled in Q2 2023 pending shareholder approval.

“Today marks the culmination of the hard work and dedication from PerkinElmer teams around the world to ensure that both new companies are in a position to succeed on day one,” said Prahlad Singh, president and chief executive officer of the PerkinElmer Life Sciences and Diagnostics company. “As we look ahead, our new Life Sciences and Diagnostics organization has an immense opportunity to continue to lead with science to redefine human health. I’m looking forward to sharing our new name and brand in the near future.”

The Company’s two core business areas, Life Sciences and Diagnostics, are uniquely positioned to help drive scientific innovation impacting human health. Within Life Sciences, the Company is focused on supporting pharmaceutical and academic scientific advancement from the earliest stage of discovery all the way to entering the clinic. In Diagnostics, the Company continuously develops new assays, systems, and complete workflows to help better diagnose disease throughout the continuum of care of human health across all lab settings.

“We would like to thank the entire team at PerkinElmer for all the hard work to get to today’s closing,” added Andre Moura, Managing Director at New Mountain Capital. “We look forward to partnering with the new PerkinElmer business New Mountain acquired to drive continued growth and innovation for the benefit of all stakeholders including the company’s customers, employees and other business partners.”

 

Source: businesswire.com

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