Waltham company completes $600M acquisition of Oxford Immunotec
Photo | Grant Welker
Oxford Immunotec's Marlborough offices
Waltham company PerkinElmer, headquartered in the United Kingdom, completed its acquisition of Marlborough-based diagnostics company Oxford Immunotec, PerkinElmer announced Tuesday morning.
Announced in January, the acquisition was valued at $591 million.
“Oxford Immunotec’s global role in fighting tuberculosis, particularly its trademark product, the T-SPOT.TB test, and the operations it has built are remarkable,” said Prahlad Singh, PerkinElmer president and CEO, in a press release. “We recognize the distinct clinical and logistical advantages of the test and see a great opportunity to leverage our automation capabilities and commercial channel access to bring tuberculosis testing to more customers around the world.”
Oxford Immunotec had approximately 275 global employees as of Sept. 30, according to a press release, although plans for either workforce expansion or reduction were not announced.
The acquisition comes after a troubling year for Oxford Immunotec, which reported a $149,000 loss in the company’s third quarter. During the same quarter in 2019, the company reported $717,000 in profit, a 792% decrease.
WBJ Web Partners
Most Recent
Most Recent
0 Comments