7i Capital Advisors Advise PerkinElmer to acquire Tulip Diagnostics

PerkinElmer to Acquire Tulip Diagnostics Private Limited in India.

PerkinElmer, Inc., a global leader committed to innovating for a healthier world, today announced that it has entered into a definitive agreement to acquire Tulip Diagnostics Pvt Ltd. 7i Capital Advisors acted as the Exclusive Sell-side Advisor to Tulip in its Strategic Partnership with PerkinElmer Inc.

“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,” said 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.”

“Combining our product portfolio and channel access in India with PerkinElmer’s established position as a global diagnostics provider enables us to work closely with customers in India to bring the latest infectious disease technologies to them at an affordable cost,” said Deepak Tripathi, Director and Co-founder, Tulip Diagnostics Private Ltd.

About Tulip Diagnostics

Based in Goa and with more than 1,200 full-time employees, Tulip is one of India’s largest domestic providers of in-vitro diagnostic reagents, kits and instruments.

Tulip’s solutions include products for the prevention, screening and diagnosis of infectious diseases such as malaria, HIV and hepatitis. Tulip has manufacturing facilities in two locations (Goa and Uttarakhand) and 12 branch offices to support more than 30,000 customers and 1,000 distributors in India.

About PerkinElmer

PerkinElmer, Inc. is a global leader committed to innovating for a healthier world. The Company reported revenue of approximately $2.3 billion in 2015, has approximately 8,000 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Since 1981, PerkinElmer has offered instruments and services to customers in India, spanning a wide range of markets. In early 2016, PerkinElmer opened a laboratory in Chennai, Tamil Nadu, to respond to the growing need for easier access to technologies that screen for and help diagnose prenatal and neonatal conditions.