PerkinElmer Expands Cell Biology Leadership with Agreement to Acquire Nexcelom Bioscience
PerkinElmer, Inc. (NYSE: PKI) has announced its agreement to acquire Nexcelom Bioscience for $260 million in cash, expected to close in Q2 2021. Nexcelom specializes in automated cell counting instruments and cytometry, generating approximately $40 million in 2021 revenues. This acquisition aims to enhance PerkinElmer's drug discovery solutions and streamline workflows for clients in academia and biopharmaceuticals. The deal follows PerkinElmer's recent acquisition of Horizon Discovery, indicating a strong push towards expanding capabilities in life sciences.
- Acquisition of Nexcelom strengthens PerkinElmer's position in automated cell counting and cytometry.
- Expected revenue growth opportunities from integrating Nexcelom's $40 million in annual revenues.
- Enhances PerkinElmer's drug discovery solutions and streamlines workflows for clients.
- Acquisition cost of $260 million could strain financial resources.
- Integration challenges may arise from combining operations of two companies.
PerkinElmer, Inc. (NYSE: PKI) is pleased to announce it has entered into an agreement to acquire Nexcelom Bioscience for
Nexcelom is a leading, global provider of automated cell counting instruments, image cytometry workstations, assays and a variety of cell reagents, consumables, and fit-for-purpose cell counting method selection and development instructions that follow ISO Cell Counting Standards and aid in the development of cell and gene and immuno-oncology therapies, virology drugs and vaccines.
Headquartered in Lawrence, Massachusetts, Nexcelom is founder-led, privately held and has approximately 130 employees around the world based in the U.S., the UK and China. Nexcelom’s expected 2021 revenues are approximately
Commenting on the transaction, Prahlad Singh, president and chief executive officer of PerkinElmer said, “We are looking forward to bringing Nexcelom’s expertise and technologies in drug development together with our passion and solutions for drug discovery. This combination will expand our efforts to help academic, government and biopharmaceutical organizations streamline their complete workflows and support efforts to accelerate time to target and time to market for novel therapies.”
Dr. Peter Li, president and chief executive officer of Nexcelom added, “Our team is very excited to be joining forces with PerkinElmer to help scientists resolve some of today’s most pressing health challenges through modernizing cell based assays using the most advanced cell models. Our organization has a deep commitment to innovation and we are looking forward to continuing to grow our technology and customer footprint in combination with PerkinElmer’s strong global presence and infrastructure.”
PerkinElmer’s existing biologics, vaccine and cell and gene research solutions feature industry-leading high content, in vivo, and cell painting screening technologies; innovative immunoassays; CRISPR, RNAi and DNA tools and custom cell lines; cell plate readers and advanced automation; microfluidics and analytical platforms.
The agreement to acquire Nexcelom comes just five months after PerkinElmer added Horizon Discovery, a leader in gene editing and modulation. To learn more about PerkinElmer’s full range of life sciences solutions, informatics and OneSource services please visit: https://www.perkinelmer.com/corporate/what-we-do/markets/life-sciences.html.
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 well-being and longevity of people globally. The Company reported revenue of approximately
About Nexcelom
Nexcelom Bioscience is a Massachusetts-based developer and marketer of image cytometry products for cell analysis in life science research and drug discovery, development and manufacturing. Products range from high performance cell viability counters (Cellometer and Cellaca) to high throughput microwell image cytometry workstations (Celigo), with turnkey solutions including instruments, consumables and reagents. Founded in 2003 and currently owned by its founders and Ampersand Capital Partners, Nexcelom delivers innovative, fit-for-purpose, accurate cell counting solutions that are critical for advanced therapeutic modalities such as cell and gene therapy. The company currently employs about 130 fast-paced, customer-centric employees who are passionate about making an impact in life science.
Factors Affecting Future Performance
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FAQ
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