PerkinElmer (NYSE:[[ticker:PKI]]), a Waltham, MA-based global provider of products for improving the health and safety of people and the environment, said today it plans to sell its illumination and detection solutions (IDS) business to the New York-based private equity firm Veritas Capital for about $500 million in cash. The IDS business, which has 3,000 employees and 14 plants worldwide, provides specialty lighting and sensor components for makers of products in the health, environmental, and security markets. Robert Friel, PerkinElmer’s chairman and CEO, said in a statement that selling the IDS unit will give his company additional capital to invest in its main human and environmental health businesses.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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