PerkinElmer Inc. (NYSE:PKI) agreed to buy Signature Genomic Laboratories LLC for an undisclosed sum.
The Waltham, Mass.-based diagnostics and lab equipment maker said it will acquire Spokane, Wash.-based Signature, which performs several types of screening for pre-natal and post-natal genetic diseases, as well as cytogenetic testing of chromosome abnormalities in individuals with unexplained physical and developmental disabilities.
PerkinElmer officials said the acquisition would allow it to “expand its position in early detection of disease, specifically in the molecular diagnostics market, and provide the company with additional strengths in cancer diagnostics,” according to a press release.
Privately-held Signature, which employs 120 people and was founded in 2003 by Drs. Lisa Shaffer and Bassem Bejjani, has grown significantly, posting $18.2 million in sales during 2008, according to a press release.