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PerkinElmer combines Life Science and Analytical Instrument businesses. (Executive Briefing).

Boston, MA 10/29/02 -- PerkinElmer has announced that it win integrate its Analytical Instrument and Life Science units to form a new Life and Analytical Sciences business unit. The new business will have sales of approximately $1 billion, over 2,000 sales service and applications support personnel, and a $65 million annual R&D budget. PerkinElmer stated that the move will leverage the businesses' sales, service and R&D organizations and operational scale. Peter B. Coggins, Ph.D, president of PerkinElmer Life Sciences, was appointed president of the new unit effective immediately. Stephen P. DeFalco, president of Analytical Instruments, will assist with the transition until year end. "An integrated Life and Analytical Sciences organization will enable PerkinElmer to provide a single, unified face to our customers in the biopharmaceutical and clinical diagnostics markets, as well as bring greater resources to our analytical customers," said PerkinElmer Chairman and CEO Gregory L. Summe. To be headquartered in Boston, the new unit will also maintain a significant presence in Shelton, Connecticut.

After the business integration following the acquisition of Packard Bioscience, PerkinElmer Life Science is set for another reorganization. As for the analytical instruments business, the move raises questions as to the attention and resources some product lines will receive from the new unit. However, the division's products for the biotech and pharma markets can be expected to flourish within the new division. In its quarterly conference call, PerkinElmer said it expects the consolidation to save $45 million in SG&A expenses.
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Publication:Instrument Business Outlook
Article Type:Brief Article
Geographic Code:1USA
Date:Oct 31, 2002
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