SAN FRANCISCO (Thomson Financial) - PerkinElmer Inc. said Wednesday it has
agreed to acquire Pediatrix Medical Group Inc.'s newborn metabolic screening
laboratory business.
Financial terms of the cash transaction weren't disclosed.
Waltham, Mass.-based PerkinElmer said the acquisition is expected to have no
material effect on its adjusted per-share earnings in 2008 and to slightly add
to earnings in 2009.
Under the agreement, PerkinElmer will also acquire Pediatrix's StepOne
newborn screening product which is capable of analyzing more than 50 inherited
disorders in newborns.
Pediatrix's screening laboratory is expected to generate revenues of about
$15 million in 2007, the company said.
Separately, Sunrise, Fla.-based Pediatrix said it plans to focus its
resources on the continued expansion of its clinical and administrative
competencies within the physician-services sector, including anesthesiology. The
deal is not expected to impact its recently announced earnings outlook for 2008,
the company said.
The transaction is expected to close in the first quarter, pending certain
closing conditions.
Shares of PerkinElmer were up 34 cents, or about 1.4%, at $24.97.
Pediatrix's stock was down 43 cents at $63.30.
Katherine Hunt
kh/tk1
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