PerkinElmer to Purchase Interest in JV from Danaher

Hits:1879   Date: 3/1/2010

NEW YORK (GenomeWeb News) – PerkinElmer today said that it has signed an agreement to purchase from Danaher the remaining interest in a joint venture for Inductively Coupled Plasma Mass Spectrometry (ICP-MS), as well as related assets.

Terms of the acquisition were not disclosed.

Danaher had gained a 50 percent interest in the ICP-MS joint venture through its recent acquisition of MDS Analytical Technologies. The JV makes the ICP-MS technologies that are used for high-sensitivity detection of individual chemical elements in a sample. It is used in the environmental, nutraceutical, biomonitoring, semiconductor, and geochemical research markets, said PerkinElmer.

In December, PerkinElmer had filed a notice of application with the Ontario Superior Court of Justice seeking to block MDS' pending sale of the joint venture to Danaher. It settled the action with MDS last month, but did the firms did not disclose the settlement terms.

PerkinElmer will have full ownership of the JV and the ICP-MS product line once the deal is completed.

"Customers will benefit from our ability to get products to market faster, as well as to better align our offering with market needs," John Roush, president of environmental health for PerkinElmer, said in a statement.