PerkinElmer Sells Medical Imaging Business

Waltham, MA 12/22/16; Palo Alto, 12/22/16—PerkinElmer has agreed to sell its Medical Imaging business to Varian Medical Systems for $276 million. The business supplies digital flat panel X-ray detectors, and has 280 employees. Varian Medical expects the purchase to add more than $140 million in revenue. “[T]he divestiture will allow PerkinElmer to focus our investments and accelerate growth in higher priority areas,” stated PerkinElmer Chairman and CEO Robert Friel. The sale is scheduled to close in the first half of 2017 pending regulatory approval and other conditions.

PerkinElmer has cited Medical Imaging as an underperforming business this year. Its sales declined double digits in the third quarter. The company indicated on its third quarter conference call that it was undertaking a portfolio review of it businesses.

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