PerkinElmer Completes Acquisition of Oxford Immunotec Global PLC
PerkinElmer, Inc. (NYSE: PKI) has finalized its acquisition of Oxford Immunotec Global PLC, recognized for its T-SPOT®.TB tuberculosis test. The acquisition aims to enhance PerkinElmer's diagnostic capabilities, leveraging automation and commercial access to expand market reach for tuberculosis testing. Oxford Immunotec reported revenues of $73.74 million in 2019. This strategic move aligns with PerkinElmer's mission to innovate for better health outcomes worldwide.
- Acquisition of Oxford Immunotec enhances PerkinElmer's diagnostic capabilities.
- Leverages automation to improve global access to tuberculosis testing.
- Oxford Immunotec reported 2019 revenue of $73.74 million, indicating strong market presence.
- Integration of Oxford Immunotec may face challenges impacting operational efficiency.
PerkinElmer, Inc., (NYSE: PKI) a global leader committed to innovating for a healthier world, today announced that the Company has completed its previously announced acquisition of Oxford Immunotec Global PLC (Oxford Immunotec). PerkinElmer originally announced its intent to acquire Oxford Immunotec on January 7, 2021.
“Oxford Immunotec’s global role in fighting tuberculosis, particularly its trademark product, the T-SPOT®.TB test, and the operations it has built are remarkable,” said Prahlad Singh, PerkinElmer president and chief executive officer. “We recognize the distinct clinical and logistical advantages of the test and see a great opportunity to leverage our automation capabilities and commercial channel access to bring tuberculosis testing to more customers around the world.”
Headquartered in Abingdon, UK, Oxford Immunotec is recognized as a global leader of proprietary test kits for latent tuberculosis. Its Interferon Gamma Release Assay (IGRA) offering identifies individuals who are infected with tuberculosis. Oxford Immunotec had approximately 275 global employees as of September 30, 2020 and reported total revenue from continuing operations of
About PerkinElmer
PerkinElmer enables scientists, researchers and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the wellbeing and longevity of people globally. The Company reported revenue of approximately
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