WALTHAM, Mass.--(BUSINESS WIRE)--PerkinElmer, Inc. (NYSE: PKI), a global leader focused on improving the health and safety of people and the environment, today announced that it sold its U. S. prenatal screening laboratory services business PerkinElmer Labs/NTD (“NTD”) to Eurofins Scientific.
“Recent changes to U.S. healthcare reform continue to drive the consolidation of diagnostics testing towards broader service providers,” said Prahlad Singh, President, Diagnostics, PerkinElmer. “Eurofins, with its breadth of testing services and capabilities, is uniquely positioned to meet the expanding service needs of NTD’s customers. Furthermore, the divestiture of the NTD business allows PerkinElmer to concentrate its efforts on developing innovative maternal fetal health technologies and solutions for the U.S. Outside the U.S., we will continue to provide kits, technologies and services through a variety of channels focused on improving health outcomes for babies and expectant mothers.”
PerkinElmer offers a comprehensive portfolio of diagnostic solutions including: prenatal, neonatal and infectious disease screening, along with molecular diagnostics, through its wide range of instruments, reagents and assay platforms, and software offerings. PerkinElmer also provides private cord blood and cord tissue preservation to families through ViaCord LLC.
NTD generated approximately $20 million in revenue in 2015. The financial impact of the divestiture, excluding any potential gain on the sale, is not expected to have a material impact on PerkinElmer’s 2016 earnings per share guidance which was provided on February 4th of this year.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on improving the health and safety of people and the environment. The Company reported revenue of approximately $2.3 billion in 2015, has approximately 8,000 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) fluctuations in the global economic and political environments; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (5) our failure to adequately protect our intellectual property; (6) the loss of any of our licenses or licensed rights; (7) our ability to compete effectively; (8) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (9) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (10) disruptions in the supply of raw materials and supplies; (11) the manufacture and sale of products exposing us to product liability claims; (12) our failure to maintain compliance with applicable government regulations; (13) regulatory changes; (14) our failure to comply with healthcare industry regulations; (15) economic, political and other risks associated with foreign operations; (16) our ability to retain key personnel; (17) significant disruption in our information technology systems; (18) our ability to obtain future financing; (19) restrictions in our credit agreements; (20) our ability to realize the full value of our intangible assets; (21) significant fluctuations in our stock price; (22) reduction or elimination of dividends on our common stock; and (23) other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-K and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.