PerkinElmer, Inc. has completed the acquisition of Shanghai-based SYM-BIO Lifescience, a provider of diagnostics instruments and related reagents, in a cash transaction equivalent to USD63.7 million.
SYM-BIO Lifescience is a major supplier of diagnostics to hospitals in China, particularly in the area of infectious diseases, which represents a major addition to PerkinElmer' s diagnostics portfolio. The acquisition doubles PerkinElmer's access to the hospitals market segment in China, offering a larger base from which to expand its prenatal and newborn screening business in the country, and provides the Company with a significant local diagnostics manufacturing and research and development base as well.
The addition of SYM-BIO' s infectious disease products also complements PerkinElmer's worldwide position in prenatal and neonatal screening, providing a new line of diagnostics for expansion of the company's regional and global offerings.
As part of the acquisition, PerkinElmer gains access to substantial manufacturing plant capacity in Shanghai and the surrounding area, where the company will be able to expand local production capabilities for a number of PerkinElmer products in China, in addition to the diagnostics portfolio.