Business

PerkinElmer to pay $1.3b for German company

PerkinElmer

Advertisement

PerkinElmer Inc., a Waltham-based company selling products and services to research labs, Monday said it will pay about $1.3 billion in cash to buy Germany’s Euroimmune Medical Laboratory Diagnostics AG to expand its business in testing for diseases.

The takeover agreement with Euroimmune, based in Lubeck, Germany, will give PerkinElmer a strong position in the market for diagnostic equipment that screens patients for autoimmune disorders, allergies, and infectious diseases. Euroimmune has averaged growth of nearly 20 percent over the past five years, selling its products in 130 countries.

PerkinElmer, which rang up sales of about $2.1 billion last year, has about 9,000 employees worldwide. Its products include instruments used for environmental analysis, food and consumer product safety, medical imaging, drug discovery, and life science research.

Robert Weisman can be reached at robert.weisman@globe.com. Follow him on Twitter @GlobeRobW.
Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.
We hope you've enjoyed your free articles.
Continue reading by subscribing to Globe.com for just 99¢.
 Already a member? Log in Home
Subscriber Log In

We hope you've enjoyed your 5 free articles'

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of BostonGlobe.com
Marketing image of BostonGlobe.com