PerkinElmer Sells NTD to Eurofins

April 25, 2016
PerkinElmer Sells NTD to Eurofins
the selloff of NTD will allow the company to focus on developing new maternal fetal health technologies and solutions for the U.S. [iStock/© dra_schwartz]

PerkinElmer said today it has sold its PerkinElmer Labs/NTD U.S. prenatal screening laboratory services business to Eurofins Scientific for an undisclosed price.

PerkinElmer said the selloff of NTD will allow the company to focus on developing new maternal fetal health technologies and solutions for the U.S., while continuing to provide kits, technologies, and services outside the U.S. “through a variety of channels.”

“Recent changes to U.S. healthcare reform continue to drive the consolidation of diagnostics testing towards broader service providers,” Prahlad Singh, PerkinElmer president, diagnostics, said in a statement. “Eurofins, with its breadth of testing services and capabilities, is uniquely positioned to meet the expanding service needs of NTD’s customers.”

The selloff of NTD is PerkinElmer’s second deal this year aimed at honing its prenatal testing focus on technologies. In January, PerkinElmer acquired Vanadis Diagnostics, the developer of a noninvasive prenatal testing (NIPT) solution in development that is based on digital analysis of cell-free DNA. The price of acquiring Vanadis was not disclosed.

PerkinElmer offers diagnostic solutions that include prenatal, neonatal, and infectious disease screening, along with molecular diagnostics, through a variety of instruments, reagents, assay platforms, and software offerings. PerkinElmer also provides private cord blood and cord tissue preservation to families through ViaCord.

NTD generated approximately $20 million in revenue last year, according to PerkinElmer—less than 1% of the seller’s total 2015 revenues of approximately $2.3 billion.

PerkinElmer said the selloff is not expected to have a material impact on its 2016 earnings per share (EPS) guidance. On February 4, the company told investors it anticipated GAAP EPS from continuing operations in the range of $2.21 to $2.31, and non-GAAP EPS of $2.65 to $2.75.