PerkinElmer to acquire ViaCell

Under the agreement, PerkinElmer will commence a cash tender offer to purchase all of the outstanding shares of ViaCell for $7.25 per share, for an aggregate purchase price of approximately $300 million, or $260 million net of cash. The transaction is expected to close in the fourth quarter of 2007. The acquisition has been unanimously approved by the board of directors of each company and is subject to customary closing conditions.

Gregory Summe, chairman and CEO, PerkinElmer, said: “ViaCell has built a high growth business based on innovative umbilical cord blood preservation technology, with a strong, established market presence. This is an important investment to continue expanding our genetic screening business. We are excited by the prospect of combining ViaCell with our existing prenatal and neonatal screening services, with an enhanced ability to reach obstetric professionals and prospective parents throughout the US.”

Robert Friel, president and COO, PerkinElmer, said: “A growing number of disorders, which today includes blood disorders, such as sickle cell anemia, and metabolic disorders, are treatable using the cord blood stem cells gathered and preserved through ViaCell’s ViaCord offering. By bringing both the screening and therapeutic benefits of these two businesses together, we can offer a more comprehensive solution to patients and practitioners.”