A Bold New Beginning for PE's Life Sciences & Diagnostic Units
09 May 2023
Diagnostic Reagents
PerkinElmer is entering into a bold new chapter. The Waltham, MA-based firm’s life sciences and diagnostics units are being launched and rebranded as Revvity.
The newly formed company will begin trading as RVTY on May 16th. The Applied, Food, and Enterprise units, which were sold to New Mountain Capital for about $2.45 billion, will retain the PerkinElmer name.
Born from two words, “revolutionize” (rev) and “vita” (vit) meaning “life” in Latin, Revvity delivers end-to-end expertise and solutions from research discovery to development, and diagnosis to cure.
“The unveiling of Revvity is the capstone of a nearly year-long journey that has transformed who we are and reinforces why our work matters,” said Prahlad Singh, president and CEO of Revvity. “At Revvity, we are united with our customers to impact health across the lifespan. Our purpose is to expand the boundaries of human potential through science. We view the challenges facing our customers as a call to action.”
In an email to MD+DI, the company said it was “starting fresh with Revvity” and looks forward to creating a new legacy.
Here’s how the new company will shake out.
Industry leading franchises, BioLegend, EUROIMMUN, Tulip Diagnostics, and ViaCord will retain their own names as unique product lines.
Our Company’s comprehensive scientific software platform, previously known as PerkinElmer Informatics, will become Revvity Signals Software Inc.
Revvity Omics replaces PerkinElmer Genomics as the Company's genomics services business.
Cisbio, Horizon Discovery, Nexcelom Bioscience, Omni International, Oxford Immunotec, Sirion Biotech and SonoVol will now identify as Revvity, while maintaining their specific product names.
“We’re a translational company in the sense that our capabilities facilitate decision making between research and clinical customers,” Singh said in a release. “With cross-business collaborations between our automation, multi-omics offerings, and our Signals software business, we have unique capabilities which put us in an optimal position to accelerate breakthrough solutions – starting with preclinical research and scientific discovery, all the way through to diagnosing and helping to treat disease.”
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