Shares in PerkinElmer Inc. (NYSE:PKI) fell today after the healthcare company missed expectations on Wall Street with its 2nd quarter earnings results. The Waltham, Mass.-baed company posted profits of $204.1 million, or $1.84 per share, on sales of $547 million for the 3 moths ended July 2, for bottom-line growth of 219.6% while sales grew […]
PerkinElmer (NYSE:PKI) inked a deal today to acquire Euroimmun Medical Laboratory Diagnostics for $1.3 billion in cash. The move is an effort to expand into autoimmune and allergy diagnostic markets, according to the scientific instruments-maker. Germany-based Euroimmun has 2,400 employees and is expected to bring in $310 million in revenue this year. Get the full […]
Avita Medical (ASX:AVH) said last week it tapped former Novartis (NYSE:NVS) global biz dev & licensing chief scientific officer Dr. Michael Perry as its new chief executive officer, replacing resigning CEO Adam Kelliher. Dr. Perry served as a non-exec director of Avita since Feb 2013, according to the company, and held positions with Novartis including chief scientific […]
Varex Imaging (NSDQ:VREX) said today it closed its $276 million acquisition of PerkinElmer Inc.‘s (NYSE:PKI) medical imaging business. The 280-worker PerkinElmer segment is an OEM business that makes digital flat panel X-ray detectors for industrial, medical, dental and veterinary X-ray imaging systems. Varex financed the buyout of the Santa Clara, Calif.-based operation by expanding its credit line to $600 million, using […]
Varian Medical (NYSE:VAR) said today that it agreed to put up $267 million to acquire the medical imaging business of PerkinElmer Inc. (NYSE:PKI) for the planned spinout of its Varex imaging components unit next month. The 280-worker PerkinElmer segment is an OEM business that makes digital flat panel X-ray detectors for industrial, medical, dental and veterinary X-ray imaging systems. Varian said […]
Updated to clarify that PerkinElmer is reorganizing into separate business units, not spinning out standalone businesses. PerkinElmer said today that it’s planning to reorganize its business, creating a separate reproductive health-focused diagnostics business unit and a discovery & analytical solutions unit, effective Oct. 3. The new stand-alone diagnostics business unit will be headed by newly-assigned senior VP & […]
The Massachusetts Life Science Center has doled out more than $25 million to 25 life science companies who pledged to create new jobs in its latest round of tax incentives,
Closing an agreement that’s been in the works since January, SyntheMed, Inc. (OTC:SYMD), a biomaterials company, changed its name to Pathfinder Cell Therapy, after merging with the biotechnology company.
Richard Franklin, who was President & CEO of Pathfinder, will keep his corner office and Joerg Gruber, a former director of SyntheMed will serve as chairman of the board for the newly created company.
Impending federal excise taxes, downward pricing pressure and declining volumes of big-ticket procedures constitute a triple threat that will drive the medical device industry to consolidate, according to a PricewaterhouseCoopers report.
The total value of health care deals over the past 12 months rose 40 percent, according to the consulting giant’s “U.S. Mid-Year M&A Outlook.” That trend is likely to continue, the report predicts.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
Here’s a quick rundown of a few releases over the past couple days: