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Formerly | PerkinElmer, Inc. |
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Company type | Public company |
Industry | Biotechnology |
Founded | May 9, 2023 | in Waltham, Massachusetts, U.S.
Headquarters | , U.S. |
Key people | Prahlad Singh (President and CEO) |
Revenue | US$3 billion (2022) |
Number of employees | 11,000 worldwide (2023) |
Subsidiaries |
|
Website |
revvity |
Revvity, Inc. is an American company in the life sciences and diagnostics business that is focused on selling to the pharmaceutical and biotechnology industries, [1] especially in relation to approaches making use of new cell therapy or gene therapy developments. [2] Its origins lie with the long-existing company PerkinElmer, which has been in a variety of business lines. [3]
In 2022, a split of PerkinElmer resulted in one part, comprising its applied, food and enterprise services businesses, being sold to the private equity firm New Mountain Capital for $2.45 billion and thus no longer being public but keeping the PerkinElmer name. The other part, comprising the life sciences and diagnostics businesses, remained public but required a new name, which in 2023 was announced as Revvity, Inc.
[3] From the perspective of Revvity, the goal of creating a separate company was that its businesses might show greater profit margins and more in the way of growth potential.
[1] An associated goal was to have more financial flexibility moving forward.
[3] On May 16, 2023, the PerkinElmer stock symbol PKI
was replaced by the new symbol RVTY
.
[4]
[3]
The name 'Revvity' itself was formed from a combination of the words "revolution" (abrupt change, in English) and "vita" (life, in Latin). [1] It was the larger of the two splitees: of around 17,000 employees of the public PerkinElmer, about 11,000 of them were assigned to it, while some 6,000 went to the newly private PerkinElmer. [4] Initial annual revenues for Revvity were estimated at about $3 billion. [1] Singh and some other senior executives came to Revvity from PerkinElmer, while others were new hires. [4] Headquarters for Revvity were kept in the same town as the old PerkinElmer, that being Waltham, Massachusetts. [1]
Compared with its PerkinElmer past, Revvity was de-emphasizing medical devices in favor of an approach based on reagents and electronic commerce. [2]
![]() | |
Formerly | PerkinElmer, Inc. |
---|---|
Company type | Public company |
Industry | Biotechnology |
Founded | May 9, 2023 | in Waltham, Massachusetts, U.S.
Headquarters | , U.S. |
Key people | Prahlad Singh (President and CEO) |
Revenue | US$3 billion (2022) |
Number of employees | 11,000 worldwide (2023) |
Subsidiaries |
|
Website |
revvity |
Revvity, Inc. is an American company in the life sciences and diagnostics business that is focused on selling to the pharmaceutical and biotechnology industries, [1] especially in relation to approaches making use of new cell therapy or gene therapy developments. [2] Its origins lie with the long-existing company PerkinElmer, which has been in a variety of business lines. [3]
In 2022, a split of PerkinElmer resulted in one part, comprising its applied, food and enterprise services businesses, being sold to the private equity firm New Mountain Capital for $2.45 billion and thus no longer being public but keeping the PerkinElmer name. The other part, comprising the life sciences and diagnostics businesses, remained public but required a new name, which in 2023 was announced as Revvity, Inc.
[3] From the perspective of Revvity, the goal of creating a separate company was that its businesses might show greater profit margins and more in the way of growth potential.
[1] An associated goal was to have more financial flexibility moving forward.
[3] On May 16, 2023, the PerkinElmer stock symbol PKI
was replaced by the new symbol RVTY
.
[4]
[3]
The name 'Revvity' itself was formed from a combination of the words "revolution" (abrupt change, in English) and "vita" (life, in Latin). [1] It was the larger of the two splitees: of around 17,000 employees of the public PerkinElmer, about 11,000 of them were assigned to it, while some 6,000 went to the newly private PerkinElmer. [4] Initial annual revenues for Revvity were estimated at about $3 billion. [1] Singh and some other senior executives came to Revvity from PerkinElmer, while others were new hires. [4] Headquarters for Revvity were kept in the same town as the old PerkinElmer, that being Waltham, Massachusetts. [1]
Compared with its PerkinElmer past, Revvity was de-emphasizing medical devices in favor of an approach based on reagents and electronic commerce. [2]