PerkinElmer is acquiring Immunodiagnostic Systems Holdings (IDS) for approximately $155 million in an all-cash deal.
The transaction has a total enterprise value of approximately $124 million and is expected to close early in the third quarter of the year.
Headquartered in Boldon, Tyne & Wear, IDS is an in-vitro diagnostic solution provider to the clinical laboratory market. The company develops, manufactures, and markets innovative immunoassays and automated immunoanalyzer technologies to provide improved diagnostic outcomes for patients. IDS’s immunoassay portfolio is a combination of an endocrinology specialty testing menu and assay panels in complementary fields. The compamy has approximately 300 global employees.
Waltham, Massachusetts-based PerkinElmer’s global diagnostics portfolio includes solutions focused on: reproductive health; autoimmune, infectious disease and allergy testing; gene analyses; and genomics offerings for oncology and other molecular tests through its wide range of instruments, reagents, assay platforms and software offerings.
IDS will be integrated within Euroimmun, an autoimmune testing company for infectious disease, allergy and molecular genetic testing based in Lübeck, Germany, which has been a PerkinElmer company since 2017.
Wolfgang Schlumberger, chief executive of Euroimmun, said: “This proposed transaction is highly valuable for both parties as the respective product lines are to a large extent complementary. The cooperation of our global distribution channels, the expansion of the immunoassay portfolio in closely related indication fields and IDS’s fully automated random access chemiluminescence platform strengthens our presence in immunodiagnostics. Our customers will benefit from a broader range of assays and laboratory diagnostic workflows. We are excited about these new opportunities and we look forward to welcoming Immunodiagnostic Systems into the PerkinElmer family following the completion of the transaction.”
Date published: May 17, 2021