PerkinElmer Establishes Wholly Owned Subsidiary in India

PerkinElmer, Inc. announced that it has acquired the remaining minority interest in PerkinElmer India Pvt. Ltd., a direct sales, service and marketing operation targeting India's thriving life science and analytical instrumentation markets, from Labindia Instruments Pvt. Ltd. The transaction establishes PerkinElmer India Ltd. as a wholly owned subsidiary of PerkinElmer and underscores the company's commitment to customers in the region.

"The establishment of a 100% direct operation in India demonstrates our continued commitment to accelerate growth in the country's rapidly expanding health sciences market," said Gregory L. Summe, PerkinElmer chairman and chief executive officer. "Customers in the region will benefit from an increased level of applications and technical support, as well as direct access to a wider range of PerkinElmer products. A stronger India presence will enable us to react faster to changing needs and develop new solutions specifically for the market."

India represents a key market for PerkinElmer, with significant growth opportunities in areas including pharmaceutical research, neonatal and maternal screening, and environmental monitoring. To further support its growth in the region, PerkinElmer plans to open a new India headquarters in Mumbai, as well as a new technical support and applications center in the second half of 2007. PerkinElmer India currently employs approximately 170 people in Bangalore, Baroda, Chennai, Hyderabad, Kolkatta, Mumbai, New Delhi, Pune and Thane.

PerkinElmer also announced the appointment of Jai Shankar as president, PerkinElmer India. Shankar will be responsible for setting the strategic direction of PerkinElmer's business development activities across India and overseeing the expansion of PerkinElmer's broad product and services portfolio to the country's growing community of scientists and researchers.

"We are pleased to have a leader of Jai's caliber and experience driving the growth of the new India organization," said Lapo Paladini, president of PerkinElmer Asia. "Also, we are grateful to Labindia, our partner in India for the past 25 years. This partnership has generated strong results to date for both parties, and has enabled us to move to this next phase of our growth."

Source: PerkinElmer Instruments