S&P: PerkinElmer unchanged

Standard & Poor's said that PerkinElmer Inc.'s (BBB/stable) agreement to purchase unrated ViaCell Inc. for $300 million in cash will not affect its ratings or outlook on the company.

The agency noted that ViaCell's umbilical cord blood preservation business complements PerkinElmer's leading position in the rapidly growing neonatal genetic screening market.

According to S&P, ViaCell's operations have been growing in the range of 20% for the past few years, albeit this growth has been marginally unprofitable as a result of the therapeutics business, which PerkinElmer plans to divest.

Elimination of public company costs, therapeutics R&D and other readily implemented changes should quickly reverse these losses, the agency said.

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