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GEN News Highlights : Jan 9, 2008

PerkinElmer Obtains Finnish Site for Genetic Screening Services

This is the company’s second facility in the area, which will also be used for R&D.

PerkinElmer signed a long-term lease for an industrial/office research facility in Turku, Finland. It will reportedly serve as the headquarters for the company’s genetic screening business, which provides solutions for neonatal, clinical, and prenatal screening and diagnostics. A significant portion will also be used for R&D.

The transaction was facilitated through investment firm W. P. Carey & Co. CPA®:14, W. P. Carey & Co.’s publicly held nontraded REIT affiliate, acquired the Turku site for approximately 10 million. The facility is being leased to Wallac Oy, a subsidiary of PerkinElmer.

The acquisition is a follow-on transaction to an approximately 28 million sale-leaseback of an adjacent research and production building that CPA:14 completed with PerkinElmer in 2001. Both properties are located in Turku’s Bio Valley.