US based PerkinElmer, Inc., a leading global player in neonatal screening and diagnostic technologies, announced that it has acquired the genetic screening business of Surendra Genetic Labs Pvt Ltd., a Chennai based laboratory that focuses on fetal, maternal and newborn health, for an undisclosed amount.
The announcement comes a day after PerkinElmer's acquisition of Shanghai-based Sym-Bio Lifescience, a provider of diagnostic instruments for $63.7 million. The company seems to be looking at emerging markets in a big way. Publicly traded PerkinElmer reported revenues of about $2 billion in 2008, and has around 8,500 employees.
Surendra Genetics Labs was founded by Dr. S. Suresh, a leading fetal medicine expert and ultrasonologist. The laboratory is a leader in providing testing services for pregnant mothers and newborns.
Ann-Christine Sundell, president, Genetic Screening, PerkinElmer, said, "The acquisition of Surendra Labs is a key component of PerkinElmer`s global commitment to facilitate access to advanced fetal, maternal and child health screening and diagnostic technologies and services for the Indian public and clinicians. This will enable PerkinElmer to extend our offerings to ensure better health outcomes in pregnancy and of newborns, as well as introduce new technologies to the India market."
Dr. S. Suresh, director, Surendra Labs, Pvt Ltd., said, "A major public health priority in India is to continue to improve the health of expecting mothers and babies through early detection, diagnostics and preventive treatment. With approximately 25 million annual births, the current rate of uptake of prenatal and neonatal health services in India remains small. In partnership with PerkinElmer, we look forward to increasing the availability of screening services throughout the country, via a successful combination of local infrastructure and global technologies and expertise."
PerkinElmer`s Genetic Screening business is a worldwide leader in clinical genetics and diagnostics, with leading products in clinical screening, cytogenetics, maternal and fetal health monitoring, and newborn screening.