Friday, 19 January 2018

PerkinElmer to invest $100 M in India

14 December 2017 | News

PerkinElmer is in talks with various government bodies and start-ups for potential investments.

Image credit- coindesk.com

Image credit- coindesk.com

PerkinElmer is planning to invest over $100 million in tie-ups with the government and acquisitions mainly in reproductive health by 2022.

In January, PerkinElmer acquired Tulip Diagnostics Pvt Ltd for an undisclosed amount. Tulip, which makes and markets in-vitro diagnostic reagents and kits, has the second largest share of the fragmented Rs 3,000 crore in-vitro diagnostic reagent market at 8-10 per cent.

PerkinElmer is in talks with various government bodies and start-ups for potential investments. The plan includes a partnership to provide technical skills and affordable technology to the government’s national newborn screening program,

The firm is reaching out to the Ministry of Health and Family Welfare to invest in national programs like the Rashtriya Bal Swasthya Karyakram (RBSK)—the country’s initiative aimed at early identification and intervention for children from birth to 18 years. RBSK covers defects at birth, deficiencies, diseases and delays in the child’s development.

India contributes to roughly $100 million of PerkinElmer’s global revenues, which was around $2.6 billion in 2016.

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