WELLESLEY, Mass., Feb. 11 -- PerkinElmer Inc. announced it is acquiring Elcos AG, a European maker of custom LED technology for biomedical and industrial applications, for $15 million cash and the potential for payments based on the future performance of the business.
Based in Pfaffenhofen, Germany, Elcos had 2004 revenues of $11.3 million, 60 percent from health sciences applications, including blood glucose monitoring and pulse oximetry. The companies said the transaction combines Elcos’ visible LED technology platform and strong customer and application base with PerkinElmer’s global sales, application and support organization, and that it will provide significantly greater growth opportunities for the Elcos technology.
"Elcos has a successful track record of delivering high-performance LED solutions to premier OEMs with the majority of their revenue in biomedical instrumentation," said John Roush, president of PerkinElmer Optoelectronics. "By bringing PerkinElmer and Elcos together, we expand our offering of technology solutions for new and existing customers."
Specialty LED solutions are well-suited for a variety of applications, including blood glucose monitoring and patient monitoring systems, and for a number of industrial applications, PerkinElmar said.
"We have always respected PerkinElmer’s unique ability to combine technology expertise, operational excellence and an intimate understanding of customers’ needs in order to deliver customized total solutions," said Joachim Sieg, founder and CEO of Elcos AG. "We strongly believe they are the right partner to take Elcos to the next level of success." Sieg will stay on as a consultant after the acquisition is completed.
For more information, visit: www.perkinelmer.com