PerkinElmer to acquire Oxford Immunotec for $591M

Jan. 07, 2021 7:14 AM ETPerkinElmer, Inc. (PKI), OXFDBy: Gaurav Batavia, SA News Editor
  • PerkinElmer (NYSE:PKI) to acquire Oxford Immunotec (NASDAQ:OXFD) for $22/share in cash, for total transaction value of $591M.
  • The acquisition price of $22 represents premium of approximately 28.3% to the closing price per share of USD 17.15 on January 5, 2021.
  • Through this Acquisition, PerkinElmer will grow its portfolio of advanced infectious disease testing solutions to include tuberculosis detection to better serve customers around the world.
  • The acquisition to be modestly accretive to PerkinElmer non-GAAP earnings in year-one following the close, and PerkinElmer anticipates Oxford Immunotec’s sales growth will exceed that of its Diagnostics franchise for the foreseeable future.
  • Oxford Immunotec had approximately 275 global employees as of September 30, 2020 and reported total revenue from continuing operations of $73.7M and $39.2M as of the fiscal year ended December 31, 2019 and the nine months ended September 30, 2020, respectively.
  • The transaction is expected to close in the first half of calendar 2021.
  • Upon the closing of the transaction, Oxford Immunotec will become a privately held company and Oxford Immunotec’s ordinary shares will no longer be listed on any public market.
  • Source: Press Release

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