WALTHAM, Mass. (AP) - PerkinElmer Inc., which provides products and systems
to life-sciences research, said Wednesday it signed an agreement with Pediatrix
Medical Group Inc. to buy its newborn metabolic screening business in a cash
transaction.
Under the terms of the agreement, PerkinElmer will buy Pediatrix's metabolic
screening laboratory and its StepOne newborn screening product, which analyzes
inherited disorders in newborns.
Pediatrix provides neonatal, maternal fetal and other pediatric subspecialty
physician services.
The acquisition is expected to have no material effect on PerkinElmer's
adjusted earnings per share in 2008 and is projected to add slightly to earnings
in 2009.
Financial terms of the agreement were not disclosed.
"Adding laboratory capabilities should strengthen the partnership with our
existing customers by enabling us to offer supplemental screening services for
disorders beyond those currently mandated by state and federal governments,"
said Robert F. Friel, president and chief operating officer at PerkinElmer.
The transaction is subject to customary closing conditions and is expected
to close in the first quarter of 2008.
Shares of Waltham, Mass.-based PerkinElmer rose 49 cents to $25.12 in
afternoon trading, while Sunrise, Fla.-based Pediatrix fell 20 cents to $63.53.
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