PerkinElmer Solidifies OUS Presence With $1.3bn EUROIMMUN Buy
In a bid to further grow its presence outside the US, especially in China and the emerging markets, PerkinElmer has inked a $1.3bn all-cash deal to buy German in vitro diagnostics multinational EUROIMMUN Medical Laboratory Diagnostics.
You may also be interested in...
If the beginning of 2017 was marked by doubts around whether and how the FDA would act with respect to complex diagnostics, we enter 2018 feeling that slow-moving vessel may finally be turning.
Device and diagnostics fundraising slumped in Q2, but there was a substantial uptick in M&A activity. Device financings totaled just slightly over half of the previous quarter, while acquisitions grew almost six-fold, thanks primarily to Becton Dickinson's $23.5 billion play for CR Bard. Financing in diagnostics slid to $1.03 billion, less than half of Q1, whereas the $1.7 billion in M&As (most of that from PerkinElmer's $1.3 billion buy of EuroImmun) was more than double Q1's aggregate.
It was a hot month for medtech M&A activity, with a total of 21 deals announced and closed in June. Dutch giant Philips continued its mission to grow its health-care business and inked three acquisitions, including a $2bn deal to buy vascular imaging business Spectranetics.