PerkinElmer to Receive Antibody and Reagent Leader BioLegend

Transformative deal significantly scales foremost placement in everyday living science to accelerate legendary discoveries in precision medicine

• Chief in antibody advancement with extremely complementary, impressive portfolio in emerging, substantial-progress areas of biologics, cell and gene treatment, proteogenomics, and recombinant proteins

• Industrial synergy chance to accelerate daily life science expansion with possible rewards for diagnostics franchise

• Annual BioLegend revenues of somewhere around $380 million estimated in 2022 with mid-teenagers-as well as anticipated profits progress (excluding synergies)

• Elevated expansion and margin profile for put together business with solid, quick modified earnings for each share accretion

WALTHAM, Mass., July 26, 2021–(Small business WIRE)–PerkinElmer, Inc. (NYSE: PKI) (“PerkinElmer”) today announced it has entered into an arrangement to obtain BioLegend, a major, worldwide provider of daily life science antibodies and reagents, for around $5.25 billion in a combination of hard cash and stock, subject matter to particular changes.

BioLegend offers its educational and biopharmaceutical clients with best-in-class antibodies and reagents in high-growth regions this kind of as cytometry, proteogenomics, multiplex assays, recombinant proteins, magnetic cell separation and bioprocessing. The transaction will be the biggest in PerkinElmer’s historical past and is expected to near by the end of the 2021 calendar yr, issue to regulatory approvals and other customary closing conditions.

Privately-held BioLegend has a lot more than 700 employees based mostly mostly in the U.S., with estimated 2022 revenues of $380 million. Upon joining PerkinElmer, BioLegend will grow PerkinElmer’s current life science franchise into new segments, and its state-of-the-art campus in San Diego, California will grow to be PerkinElmer’s world Centre of Excellence (CoE) for study reagent content growth for the put together company.

Commenting on the agreement to acquire BioLegend, Prahlad Singh, president and main govt officer of PerkinElmer, said: “We are thrilled to have the prospect to deliver our systems and progressive cultures collectively to develop seamless alternatives to drive science and discovery ahead. We consider joining our groups presents an incredible chance to speed up discoveries that assistance lifestyle science researchers leverage ever-acquiring systems and novel techniques to much better comprehend and struggle disease.”

Tale carries on

Gene Lay, founder, president and chief govt officer of BioLegend, included, “We are quite psyched to join the PerkinElmer spouse and children. The mix will find the money for us the option to go on to construct on our two-decade basis of ground breaking science and scale in new and remarkably eye-catching PerkinElmer spots these kinds of as clinical diagnostics and foods protection tests. The BioLegend team is eager to enter this new chapter with PerkinElmer, furthering our mission of enabling famous discovery from analysis to get rid of.”

Strategic Alignment of Offer Structure Predicted to Direct to More rapidly Development and Elevated Margins

PerkinElmer has absolutely committed bridge funding from Goldman Sachs Financial institution Usa in position for the dollars part of the agreed on invest in price. The combination is predicted to be accretive to PerkinElmer’s present income advancement and margin profile and supply an believed $.30 of altered earnings for every share accretion in the initial full yr adhering to near and larger than $.50 in the second yr subsequent close. The combined enterprise will crank out instant profits synergies which are expected to arrive at $100 million per year by the fifth year following the transaction shut and no sizeable cost synergies are prepared.

Advisors

Goldman Sachs & Co. LLC, Inc., is serving as exceptional economical advisor to PerkinElmer, with WilmerHale serving as lawful counsel and McDermott Will & Emery serving as antitrust counsel. J.P. Morgan Securities LLC is serving as special financial advisor to BioLegend with Pillsbury Winthrop Shaw Pittman LLP serving as lawful counsel.

Convention Connect with and Webcast

PerkinElmer will explore its second quarter 2021 success (as introduced independently), its outlook for business enterprise developments, and its acquisition of BioLegend in a convention connect with on July 26, 2021 at 8:00 a.m. Eastern Time. To entry the call, make sure you dial 720-405-2250 prior to the scheduled meeting get in touch with time and give the access code 9275741. The webcast and accompanying slides can be found on the buyers part of www.perkinelmer.com. An audio archive of the contact will be available in that area of the web-site right up until August 9, 2021.

Elements Impacting Potential General performance

This push launch consists of “forward-on the lookout” statements in just the which means of the Non-public Securities Litigation Reform Act of 1995, together with, but not minimal to, statements relating to estimates and projections of future earnings per share, dollars flow and income expansion and other economical effects, developments relating to our buyers and conclusion-marketplaces, and ideas concerning business progress possibilities, acquisitions and divestitures. Phrases these kinds of as “believes,” “intends,” “anticipates,” “ideas,” “expects,” “estimates,” “tasks,” “forecasts,” “will” and comparable expressions, and references to steerage, are intended to identify forward-on the lookout statements. This kind of statements are dependent on management’s existing assumptions and expectations and no assurances can be supplied that our assumptions or expectations will verify to be suitable. A variety of important danger components could induce real final results to vary materially from the results described, implied or projected in any ahead-seeking statements. These components contain, with no limitation: (1) marketplaces into which we offer our merchandise declining or not increasing as predicted (2) the outcome of the COVID-19 pandemic on our profits and operations (3) fluctuations in the world wide economic and political environments (4) our failure to introduce new products in a well timed way (5) our potential to execute acquisitions, this sort of as BioLegend, and license technologies, or to productively combine acquired enterprises and accredited technologies into our existing company or to make them financially rewarding, or successfully divest companies (6) our ability to compete correctly (7) fluctuation in our quarterly running effects and our ability to change our operations to handle sudden changes (8) substantial disruption in third-bash package delivery and import/export products and services or major raises in charges for those companies (9) disruptions in the offer of raw elements and materials (10) our skill to keep vital personnel (11) significant disruption in our details technologies techniques, or cybercrime (12) our capability to understand the total benefit of our intangible belongings (13) our failure to adequately safeguard our mental residence (14) the reduction of any of our licenses or accredited rights (15) the manufacture and sale of merchandise exposing us to item legal responsibility statements (16) our failure to sustain compliance with applicable authorities rules (17) regulatory adjustments (18) our failure to comply with healthcare market polices (19) financial, political and other threats involved with foreign functions (20) the United Kingdom’s withdrawal from the European Union (21) our capacity to attain upcoming financing (22) limitations in our credit rating agreements (23) discontinuation or substitute of LIBOR (24) significant fluctuations in our inventory cost (25) reduction or elimination of dividends on our prevalent inventory and (26) other elements which we describe less than the caption “Danger Variables” in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Fee. We disclaim any intention or obligation to update any ahead-wanting statements as a end result of developments taking place following the day of this press release.

About PerkinElmer

PerkinElmer enables experts, scientists, and clinicians to handle their most crucial problems across science and health care. With a mission centered on innovating for a much healthier earth, we provide exceptional remedies to provide the diagnostics, lifestyle science, foodstuff, and utilized markets. We strategically associate with shoppers to permit earlier and more exact insights supported by deep market place awareness and complex know-how. Our focused group of about 14,000 staff members all over the world is passionate about helping consumers do the job to generate healthier people, increase the quality of everyday living, and sustain the very well-currently being and longevity of people today globally. The Company documented revenue of somewhere around $3.8 billion in 2020, serves buyers in 190 nations, and is a ingredient of the S&P 500 index. Extra info is accessible by way of 1-877-PKI-NYSE, or at www.perkinelmer.com.

About BioLegend

BioLegend allows lifetime science discovery from research to heal by giving environment-course, cutting-edge antibodies and reagents for biomedical study, produced in its state-of-the-artwork facility in San Diego, CA. Its mission is to speed up exploration and discovery by supplying the optimum good quality items at an exceptional benefit, along with remarkable client service and technological help. Its products know-how addresses a various set of exploration locations such as Immunology, Neuroscience, Cancer, Stem cells, and Scientific Products and solutions. BioLegend’s reagents are supported by excellent shopper assistance and a high-quality administration procedure that is qualified for ISO 13485:2016. With a solid commitment to the scientific local community, BioLegend pushes the boundaries of scientific innovation, and transforms the way we acquire and interpret scientific information. To learn extra, go to www.biolegend.com.

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