Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/ap/2012-11-12/perkinelmer-buys-chinese-test-developer-for-38m

AP News

PerkinElmer buys Chinese test developer for $38M


WALTHAM, Mass. (AP) — Health and industrial sciences company PerkinElmer Inc. said Monday it acquired Haoyuan Biotech Co., a Chinese company that makes diagnostic tests for infectious diseases.

PerkinElmer said it agreed to pay about $38 million for the deal, and it could make additional payments based on sales of Haoyuan Biotech' products. The company is is based in Shanghai and it has four approved tests: two that screen for hepatitis B and C, one that screens for hepatitis B and C and HIV, and one that tests for gonorrhea and chlamydia.

PerkinElmer said that in China, the demand for blood is growing 15 percent a year, and the government has mandated screening of donated blood for infectious diseases. The government will also fund that testing. It said the deal should add to its adjusted income starting in 2014.

Shares of PerkinElmer lost 25 cents to $30.46 Monday.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus