PerkinElmer looks to spin out diagnostics biz

PerkinElmer said today that it’s planning to spin out its reproductive health-focused diagnostics business, effective Oct. 3.

The new stand-alone will be headed by newly-assigned senior VP & division president Prahlad Singh, the Waltham, Mass.-based company said.

“We are excited about taking the next step in our strategic evolution to drive increasing profitable growth and advance our mission of innovating for a healthier world. These organizational changes will accelerate our application and technology development efforts for the benefit of PerkinElmer’s customers as we expand our capabilities to provide more integrated solutions that address critical needs around the globe,” board chair & CEO Robert Friel said in prepared remarks.

In addition to spinning out its diagnostics business, PerkinElmer said it is combining its environmental health and life sciences solutions businesses into a discovery & analytical solutions unit. Jim Corbett will lead the newly formed discovery & analytical solutions, also effective Oct. 3.

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