PerkinElmer, Inc. (PKI) Buys Chinese Test Developer for $38 Million
11/13/2012 9:54:12 AM
Health and industrial sciences company PerkinElmer Inc. said Monday it acquired Haoyuan Biotech Co., a Chinese company that makes diagnostic tests for infectious diseases. PerkinElmer said it agreed to pay about $38 million for the deal, and it could make additional payments based on sales of Haoyuan Biotech' products. The company is is based in Shanghai and it has four approved tests: two that screen for hepatitis B and C, one that screens for hepatitis B and C and HIV, and one that tests for gonorrhea and chlamydia. PerkinElmer said that in China, the demand for blood is growing 15 percent a year, and the government has mandated screening of donated blood for infectious diseases.