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PerkinElmer, Inc.. (5/12/21). "Press Release: PerkinElmer Expands Cell Biology Leadership with Agreement to Acquire Nexcelom Bioscience". Waltham, MA.

Organisations Organisation PerkinElmer Inc. (NYSE: PKI)
  Group PerkinElmer (Group)
  Organisation 2 Nexcelom Bioscience LLC
  Group PerkinElmer (Group)
Products Product cell analysis technology
  Product 2 cell counter
Index terms Index term Nexcelom Bioscience–PerkinElmer: investment, 202105– acquisition $260m in cash from founders + Ampersand Capital Partners
  Index term 2 Horizon Discovery–PerkinElmer: investment, 202011– cash tender offer £296m ($383m) representing total enterprise value of £284m ($368m)
Persons Person Singh, Prahlad (PerkinElmer 201901– COO joined 2014 as President Diagnostics before GE Healthcare + Philips Healthcare)
  Person 2 Li, Peter (Nexcelom Bioscience 202105 CEO)
     


Highly complementary cell counting and analysis capabilities bolster preclinical portfolio and enhance QA/QC capabilities in cell and gene therapy and biologics manufacturing


PerkinElmer, Inc. (NYSE: PKI) is pleased to announce it has entered into an agreement to acquire Nexcelom Bioscience for $260 Million in cash. The transaction is expected to close during the second quarter of 2021.

Nexcelom is a leading, global provider of automated cell counting instruments, image cytometry workstations, assays and a variety of cell reagents, consumables, and fit-for-purpose cell counting method selection and development instructions that follow ISO Cell Counting Standards and aid in the development of cell and gene and immuno-oncology therapies, virology drugs and vaccines.

Headquartered in Lawrence, Massachusetts, Nexcelom is founder-led, privately held and has approximately 130 employees around the world based in the U.S., the UK and China. Nexcelom’s expected 2021 revenues are approximately $40 Million.

Commenting on the transaction, Prahlad Singh, president and chief executive officer of PerkinElmer said, “We are looking forward to bringing Nexcelom’s expertise and technologies in drug development together with our passion and solutions for drug discovery. This combination will expand our efforts to help academic, government and biopharmaceutical organizations streamline their complete workflows and support efforts to accelerate time to target and time to market for novel therapies.”

Dr. Peter Li, president and chief executive officer of Nexcelom added, “Our team is very excited to be joining forces with PerkinElmer to help scientists resolve some of today’s most pressing health challenges through modernizing cell based assays using the most advanced cell models. Our organization has a deep commitment to innovation and we are looking forward to continuing to grow our technology and customer footprint in combination with PerkinElmer’s strong global presence and infrastructure.”

PerkinElmer’s existing biologics, vaccine and cell and gene research solutions feature industry-leading high content, in vivo, and cell painting screening technologies; innovative immunoassays; CRISPR, RNAi and DNA tools and custom cell lines; cell plate readers and advanced automation; microfluidics and analytical platforms.

The agreement to acquire Nexcelom comes just five months after PerkinElmer added Horizon Discovery, a leader in gene editing and modulation. To learn more about PerkinElmer’s full range of life sciences solutions, informatics and OneSource services please visit: https://www.perkinelmer.com/corporate/what-we-do/markets/life-sciences.html.


About PerkinElmer

PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food, and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the well-being and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.


About Nexcelom

Nexcelom Bioscience is a Massachusetts-based developer and marketer of image cytometry products for cell analysis in life science research and drug discovery, development and manufacturing. Products range from high performance cell viability counters (Cellometer and Cellaca) to high throughput microwell image cytometry workstations (Celigo), with turnkey solutions including instruments, consumables and reagents. Founded in 2003 and currently owned by its founders and Ampersand Capital Partners, Nexcelom delivers innovative, fit-for-purpose, accurate cell counting solutions that are critical for advanced therapeutic modalities such as cell and gene therapy. The company currently employs about 130 fast-paced, customer-centric employees who are passionate about making an impact in life science.


Factors Affecting Future Performance

This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) effect of the COVID-19 pandemic on our sales and operations; (3) fluctuations in the global economic and political environments; (4) our failure to introduce new products in a timely manner; (5) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (6) our failure to adequately protect our intellectual property; (7) the loss of any of our licenses or licensed rights; (8) our ability to compete effectively; (9) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (10) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (11) disruptions in the supply of raw materials and supplies; (12) the manufacture and sale of products exposing us to product liability claims; (13) our failure to maintain compliance with applicable government regulations; (14) regulatory changes; (15) our failure to comply with healthcare industry regulations; (16) economic, political and other risks associated with foreign operations; (17) our ability to retain key personnel; (18) significant disruption in our information technology systems, or cybercrime; (19) our ability to obtain future financing; (20) restrictions in our credit agreements; (21) discontinuation or replacement of LIBOR; (22) the United Kingdom’s withdrawal from the European Union; (23) our ability to realize the full value of our intangible assets; (24) significant fluctuations in our stock price; (25) reduction or elimination of dividends on our common stock; and (26) other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.


Media Contact:
Jennifer McNeil
PerkinElmer, Inc.
jennifer.mcneil@perkinelmer.com
+1 508.380.2902

Investor Relations:
Steve Willoughby
PerkinElmer, Inc.
stephen.willoughby@perkinelmer.com
+1 781.663.5677

   
Record changed: 2021-06-11

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