PerkinElmer Acquires Improvision Ltd
WALTHAM, Mass.–PerkinElmer, Inc. (NYSE: PKI – News), a global technology leader in Health Sciences and Photonics, today announced that it has acquired Improvision Ltd. in a cash transaction. Based in Coventry, United Kingdom, Improvision is a leading provider of cellular imaging software and integrated hardware solutions used in life sciences research. The company had revenue of approximately GBP 6 million (BPS) in 2006.
A major challenge facing cell biologists and researchers today is the efficient management of the abundance of data derived from high content screening (HCS) and advanced confocal microscopy. The addition of Improvision’s robust 3D imaging and analysis software to PerkinElmer’s advanced HCS systems will provide customers with an unmatched range of powerful, easy-to-use imaging solutions for analyzing cellular events – from real-time imaging of live cells to rapid high content screening of multiple samples.
“This acquisition strengthens our leading capability in the fast-growing field of advanced cellular sciences,” said Gregory L. Summe, chairman and chief executive officer, PerkinElmer, Inc. “PerkinElmer now provides pharmaceutical and academic researchers with a single source for imaging and analysis solutions that will help increase their understanding of disease mechanisms at the cellular level, potentially speeding the development of new therapies for conditions such as Alzheimer’s, Parkinson’s, diabetes and cancer.”
Improvision’s flagship offering is Volocity®, a high-performance, high-throughput 3D and 4D imaging software solution that allows users to capture, visualize and analyze images of dynamic cell-based processes, as well as integrated software and hardware solutions for the control and analysis of microscopy systems. Volocity complements PerkinElmer’s UltraVIEW® Live Cell Imaging system, which captures high-speed, high-resolution, multi-dimensional images of live biological samples including cultured cells, tissues and embryos. Additionally, Improvision provides integrated software and hardware solutions for microscopy systems control and data analysis.
This announcement also builds upon PerkinElmer’s recent acquisition of Evotec Technologies, a leading provider of high-performance cellular screening systems. PerkinElmer now offers Evotec Technologies’ Opera(TM) High Content Screening platform, a premier tool for high content analysis that combines the precision of confocal microscopy with the throughput required for primary and secondary screening. The product portfolios of Improvision and Evotec Technologies will be integrated and fully supported by PerkinElmer’s highly regarded sales and service organization.
Factors Affecting Future Performance
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities. Words such as “believes,” “intends,” “anticipates,” “plans,” “expects,” “projects,” “forecasts,” “will” and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management’s current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) our failure to introduce new products in a timely manner; (2) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable; (3) our failure to protect adequately our intellectual property; (4) the loss of any of our licenses or licensed rights; (5) our ability to compete effectively; (6) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (7) our ability to produce an adequate quantity of products to meet our customers’ demands; (8) our failure to maintain compliance with applicable government regulations; (9) regulatory changes; (10) economic, political and other risks associated with foreign operations; (11) our ability to retain key personnel; (12) restrictions in our credit agreement; (13) our ability to realize the full value of our intangible assets; and (14) other factors which we describe under the caption “Risk Factors” in our most recent annual report on Form 10-K and in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
Health Sciences end markets include genetic screening, environmental, service, biopharma, and medical imaging. Photonics markets include sensors and specialty lighting.
PerkinElmer, Inc. is a global technology leader driving growth and innovation in Health Sciences and Photonics markets to improve the quality of life. The Company reported revenues of $1.55 billion in 2006, has 8,500 employees serving customers in more than 125 countries, and is a component of the S&P 500 Index. Additional information is available through www.perkinelmer.com or 1-877-PKI-NYSE.