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PerkinElmer Purchases NEN Life Sciences.

Boston, MA 6/12/00-PerkinElmer announced it will acquire NEN Life Sciences from an investor group, led by Genstar Capital LLC, for approximately $400 million. NEN Life Sciences provides products for functional genomics, high-throughput screening and drug discovery. For this year, the company's revenues are expected to be $125 million. PerkinElmer estimates that the combined life science businesses will generate around $300 million in revenue, with over 75% of it related to services and consumables. The acquisition should be completed in the third quarter.

This acquisition by PerkinElmer reaffirms its strategic intent to stake out a growing role in the burgeoning life sciences arena. NEN will join PerkinElmer's Life Sciences sector and bring that group to over $300 million. No doubt the handsome premium paid convinced NEN that this was better than an IPO.
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Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 15, 2000
Words:134
Previous Article:Molecular Devices Acquires LJL Biosystems.
Next Article:PE Biosystems Signs Agreement with Boston Probes.


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