PerkinElmer has agreed to acquire Tulip Diagnostics, a leading Indian provider of in-vitro diagnostic solutions, to expand its market presence in emerging diagnostics sectors.

Information on the Target

PerkinElmer, a prominent global leader in the provision of health solutions, announced on January 9, 2017, its intent to acquire Tulip Diagnostics. Tulip Diagnostics is recognized as one of India’s largest domestic suppliers of in-vitro diagnostic reagents, kits, and instruments, catering to a diverse clientele comprising diagnostic laboratories as well as both governmental and private healthcare institutions. This acquisition marks a strategic move to enhance PerkinElmer's operational footprint in a growing market.

Tulip's established customer base and wide-ranging product portfolio position it as a significant player in the diagnostics sector. Through this acquisition, PerkinElmer aims to leverage Tulip’s strengths to bolster its capabilities and market share in the diagnostics domain, particularly in India.

Industry Overview in India

The diagnostics industry in India has seen substantial growth in recent years, driven by increasing healthcare demands and advancements in technology. India’s healthcare sector is evolving, with a