PerkinElmer acquires autoimmune testing firm Euroimmun for $1.3 billion

Analytical & lab equipment supplier PerkinElmer Inc has entered into a definitive agreement to acquire Euroimmun Medical Laboratory Diagnostics AG for $ 1.3 billion. 

Based in Lubeck, Germany, with approximately 2,400 employees, Euroimmun is widely recognised as a global leader in autoimmune testing and an emerging force in infectious disease and allergy testing. The company has extensive expertise and capabilities across immunology, cell biology, histology, biochemistry and molecular biology. Euroimmun is expected to generate approximately $310 million in revenue this year, and over the last five years, the company has averaged revenue growth of 19 percent. In 2016, the company generated sales in more than 130 countries worldwide, with approximately 45 percent of revenues in China, 30 percent in Europe, Middle East & Africa, 5 percent in the Americas and 20 percent in Rest of World.