PerkinElmer to Sell Medical Imaging Business to Varian Medical Systems
December 22 2016 - 8:15AM
Business Wire
PerkinElmer, Inc. (NYSE: PKI), a global leader committed to
innovating for a healthier world, today announced its intent to
sell its Medical Imaging business, a supplier of flat panel X-ray
detectors that serve as components for industrial, medical and
dental X-ray imaging systems, to Varian Medical Systems (NYSE:
VAR).
“Combining our Medical Imaging business with Varian’s
capabilities will better position the business to support its
customers and continue to innovate and develop new imaging
systems,” said Robert Friel, Chairman and Chief Executive Officer,
PerkinElmer. “In addition, the divestiture will allow PerkinElmer
to focus our investments and accelerate growth in higher priority
areas.”
The transaction is subject to customary closing conditions and
is expected to close in the first half of 2017.
About PerkinElmer, Inc.PerkinElmer, Inc. is a global
leader committed to innovating for a healthier world. The Company
reported revenue of approximately $2.3 billion in 2015, has
approximately 8,000 employees serving customers in more than 150
countries, and is a component of the S&P 500 Index. Additional
information is available through 1-877-PKI-NYSE or at
www.perkinelmer.com.
Factors Affecting Future PerformanceThis 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, cash flow and revenue growth and other
financial results, developments relating to our customers and
end-markets, and plans concerning business development
opportunities and divestitures. 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) markets
into which we sell our products declining or not growing as
anticipated; (2) fluctuations in the global economic and political
environments; (3) our failure to introduce new products in a timely
manner; (4) 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, or successfully divest businesses; (5) our failure to
adequately protect our intellectual property; (6) the loss of any
of our licenses or licensed rights; (7) our ability to compete
effectively; (8) fluctuation in our quarterly operating results and
our ability to adjust our operations to address unexpected changes;
(9) significant disruption in third-party package delivery and
import/export services or significant increases in prices for those
services; (10) disruptions in the supply of raw materials and
supplies; (11) the manufacture and sale of products exposing us to
product liability claims; (12) our failure to maintain compliance
with applicable government regulations; (13) regulatory changes;
(14) our failure to comply with healthcare industry regulations;
(15) economic, political and other risks associated with foreign
operations; (16) our ability to retain key personnel; (17)
significant disruption in our information technology systems; (18)
our ability to obtain future financing; (19) restrictions in our
credit agreements; (20) the approval of the Brexit Referendum in
the United Kingdom; (21) our ability to realize the full value of
our intangible assets; (22) significant fluctuations in our stock
price; (23) reduction or elimination of dividends on our common
stock; and (24) other factors which we describe under the caption
"Risk Factors" 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20161222005126/en/
PerkinElmer, Inc.Investor Relations:Tommy J. Thomas,
781-663-5889tommy.thomas@perkinelmer.comorMedia:Brian Willinsky,
781-663-5728brian.willinsky@perkinelmer.com
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