PerkinElmer Acquires Chinese Infectious Disease Diagnostics Company
November 19, 2012
PerkinElmer has acquired Shanghai Haoyuan Biotech to extend its reach into the growing Chinese nucleic acid-based blood screening market.
AsianScientist (Nov. 19, 2012) – PerkinElmer, Inc. has completed the acquisition of Shanghai Haoyuan Biotech Co., Ltd., a China-based infectious disease diagnostics company.
The acquisition extends PerkinElmer’s capabilities into nucleic acid blood screening and in the growing molecular clinical diagnostics market in China. It adds to PerkinElmer’s portfolio four infectious disease assays that are approved by China’s State Food and Drug Administration (SFDA).
These infectious disease diagnostics tools include a qualitative 3-in-1 assay for the detection of hepatitis B (HBV), hepatitis C (HCV), and human immunodeficiency virus (HIV), two clinical quantitative assays that screen for HBV and HCV, and one qualitative assay screen for chlamydia trachomatis and neisseria gonorrhoeae (CTNG).
“By combining PerkinElmer’s robust disease screening capabilities with Haoyuan’s proprietary reagents and equipment, the Company will be able to offer highly sensitive systems and assays for quality detection of blood-borne infections for the Chinese market,” said Robert Friel, chairman and chief executive officer of PerkinElmer.
Facing an annual 15 percent increase in the demand for blood, the Chinese government is now mandating and funding infectious disease screening of donated blood. The Chinese government’s latest five-year plan mandates that all blood be tested using nucleic acid technologies by the end of 2015.
There are approximately 780,000 people living with HIV/AIDS in China. The World Health Organization also reports chronic infection rates of 8 to 10 percent of the adult population with HBV and 3.2 percent of China’s 1.4 billion population living with HCV.
Compared to antibody testing methods, nucleic acid testing reduces the potential for failed detection of certain infection diseases that exhibit long incubation times between infection and detection, according to the PerkinElmer.
The Haoyuan acquisition enables PerkinElmer to supply advanced, highly sensitive diagnostics screenings to these banks, ensuring that HBV, HCV and HIV are accurately detected prior to transfusion.
The purchase price for the transaction was US$38 million in cash and potential future additional consideration based on the achievement of revenue-based targets. The acquisition is anticipated to be immaterial to PerkinElmer’s adjusted earnings for the remainder of 2012 and 2013 and accretive beginning in 2014.
Source: PerkinElmer, Inc.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.