PE to buy Euroscreen Products
Leading life science instrument manufacturer PerkinElmer
BOSTON—Leading life science instrument manufacturer PerkinElmer announced it signed an agreement with Euroscreen S.A. to acquire its subsidiary Belgium-based Euroscreen Products S.A. in a cash deal. The acquisition, expected to close in Q1 2007, would see PerkinElmer expand its portfolio of GPCR screening platforms to include products like the AequoScreen cellular assay.
"We expect the combination of the Euroscreen Products portfolio and PerkinElmer's robust global distribution channels would accelerate the adoption of this exceptional screening technology by the world's leading pharmaceutical and biotechnology laboratories," said Dr. Jean Combalbert, CEO of Euroscreen S.A. "The sale of our products division would enable us to reinforce our strategy dramatically by funding our drug discovery and tailored screening service activities."
The deal comes just weeks after PerkinElmer announced intent to acquire European high-content screening (HCS) company Evotec Technologies. No financial details of the Euroscreen deal were released.