PerkinElmer further established itself as a player in the personalized medicine arena through its September acquisition of Caliper Life Sciences for $600 million. Leaders of both companies expressed similar sentiments in commenting on the acquisition.
Robert F. Friel, Perkin Elmer’s chairman and CEO, said, “The integration of Caliper into our organization will further strengthen PerkinElmer’s position in personalized medicine. The acquisition will enhance our ability to provide customers with the complementary technologies, services, and knowledge they need to drive innovation from in vivo to in vitro imaging and provide expanded offerings across our biomedical, diagnostics, environmental, and food safety end-markets.”
Kevin Hrusovsky, Caliper’s former president and CEO, told GEN, that the combined forces of both companies create an opportunity to revolutionize the medical industry. “We will further strengthen PerkinElmer’s position in personalized medicine,” he told GEN. Hrusovsky will lead the newly combined $500 million business, which integrates the former Caliper organization with PerkinElmer’s existing research business.
The Caliper acquisition is a logical step in a series of acquisitions aimed at enlarging PerkinElmer’s clinical medicine fiefdom across the board from diagnostic services to instrumentations likely to play a role in personalized medicine. In July 2006, PerkinElmer bought ViaCelNTD Labs of Long Island, NY, specializing in prenatal screening, and the following year renamed the company ViaCord.
Then in 2008, PerkinElmer scooped up Pediatrix Screening, a laboratory specializing in screening newborns for various inborn errors of metabolism. It renamed the laboratory PerkinElmer Genetics.
While PerkinElmer has established itself as a market leader, especially in genetic screening, one financial analyst cautions that it operates, like similar companies, in a highly competitive industry characterized by rapid technological change and evolving industry standards. As a result, PerkinElmer must continue to make large R&D investments to maintain a competitive pipeline.