PerkinElmer Completes Divestiture of its Applied, Food and Enterprise Services Businesses
Transforms into new Life Sciences and Diagnostics company
The resulting new, high-growth Life Sciences and Diagnostics business, focused on developing and delivering novel scientific breakthroughs that will have a profound impact on improving global health, will share the PerkinElmer name with the Applied, Food and Enterprise Services businesses until a new name, brand and ticker symbol is unveiled in Q2 2023 pending shareholder approval.
“Today marks the culmination of the hard work and dedication from PerkinElmer teams around the world to ensure that both new companies are in a position to succeed on day one,” said
The Company’s two core business areas, Life Sciences and Diagnostics, are uniquely positioned to help drive scientific innovation impacting human health. Within Life Sciences, the Company is focused on supporting pharmaceutical and academic scientific advancement from the earliest stage of discovery all the way to entering the clinic. In Diagnostics, the Company continuously develops new assays, systems, and complete workflows to help better diagnose disease throughout the continuum of care of human health across all lab settings.
“We would like to thank the entire team at PerkinElmer for all the hard work to get to today’s closing,” added
Factors Affecting Future Performance
This 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, acquisitions and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," “estimates”, "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) the effect of the COVID-19 pandemic on our sales and operations; (3) fluctuations in the global economic and political environments; (4) our failure to introduce new products in a timely manner; (5) our ability to execute acquisitions and divestitures, license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (6) our ability to compete effectively; (7) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (8) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (9) disruptions in the supply of raw materials and supplies; (10) our ability to retain key personnel; (11) significant disruption in our information technology systems, or cybercrime; (12) our ability to realize the full value of our intangible assets; (13) our failure to adequately protect our intellectual property; (14) the loss of any of our licenses or licensed rights; (15) the manufacture and sale of products exposing us to product liability claims; (16) our failure to maintain compliance with applicable government regulations; (17) regulatory changes; (18) our failure to comply with healthcare industry regulations; (19) economic, political and other risks associated with foreign operations; (20) our ability to obtain future financing; (21) restrictions in our credit agreements; (22) discontinuation or replacement of LIBOR; (23) significant fluctuations in our stock price; (24) reduction or elimination of dividends on our common stock; and (25) other factors which we describe under the caption "Risk Factors" in our most recent annual report on Form 10-K and in our other filings with the
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