PerkinElmer Buys Indian IVD Firm Tulip Diagnostics
PerkinElmer is buying Tulip Diagnostics Private Ltd., which it says is one of the India’s largest domestic providers of in vitro diagnostic reagents, kits, and instruments. No financial details have been disclosed for the transaction, which is expected to close during the first quarter of 2017. Tulip’s marketed portfolio spans products for the prevention, screening, and diagnosis of infectious diseases, including malaria, human immunodeficiency virus (HIV), and hepatitis. With 1200 full-time employees, the Goa-based organization operates manufacturing facilities in Goa and Uttarakhand, and 12 offices that support its 1000 distributors and 30,000 customers in India.
PerkinElmer has been offering instruments and services spanning a range of markets to customers in India since 1981. During early 2016, the firm opened a laboratory in Chennai, Tamil Nadu, to enable faster access to prenatal and neonatal screening technologies.
“In vitro diagnostics is one of the fastest growing vertical segments in India, and Tulip provides the key enablers for PerkinElmer to broaden our infectious disease screening menu and capabilities for customers throughout the region,” commented Jayashree Thacker, president, PerkinElmer India. “The acquisition underscores our commitment to bringing advanced healthcare innovations into India, while continuing to further expand our footprint in the country.”
Tulip Private is one of the Tulip group of companies, established in 1988, which manufactures and supplies internationally a broad range of products, including biochemistry kits, dehydrated culture media, laboratory and immunoassay reagents, as well as semiautomated and automated in vitro diagnostics analyzers. The group says most of its products are CE marked and exported to over 87 countries. The eight individual Tulip group companies include Tulip Diagnostics Private, Orchid Biomedical Systems, Qualpro Diagnostics, Zephyr Biomedicals, Viola Diagnostic Systems, Coral Clinical Systems, and BioShields.
PerkinElmer’s diagnostics portfolio includes instruments, reagents, assay platforms, and software for reproductive health, infectious disease screening, and genomics for oncology and other molecular tests. As part of an organizational restructuring announced in September 2016, the diagnostics business was aligned as a standalone business segment, headed by svp and president, Prahlad Singh. Announcement of the Tulip Diagnostics acquisition comes just 24 hours after PerkinElmer reported signing a next-generation sequencing collaboration with 10x Genomics.