Launching Revvity: A Scientific Solutions Company Powering Innovation from Discovery to Cure
- Transformation aimed at revolutionizing next generation scientific breakthroughs that solve the world's greatest health challenges
- Trusted partner to pharma, government and diagnostics customers with complete, end-to-end solutions
- To begin trading as RVTY under new name on May 16th (NYSE:PKI)
Revvity, Inc. officially launches today as a science-based solutions company that leverages innovation across life sciences and diagnostics to help improve lives everywhere. Born from two words, "revolutionize" (rev) and "vita" (vit) meaning "life" in Latin, Revvity delivers end-to-end expertise and solutions from research discovery to development, and diagnosis to cure. The Company was previously affiliated with PerkinElmer, Inc.
"The unveiling of Revvity is the capstone of a nearly year-long journey that has transformed who we are and reinforces why our work matters," said Prahlad Singh, president and chief executive officer of Revvity. "At Revvity, we are united with our customers to impact health across the lifespan. Our purpose is to expand the boundaries of human potential through science. We view the challenges facing our customers as a call to action."
Revvity provides reagents, consumables, assays, instruments and software to customers in markets ranging from pharma and biotech, diagnostic labs, academia and government agencies. "We're a translational company in the sense that our capabilities facilitate decision making between research and clinical customers," remarked Singh. "With cross-business collaborations between our automation, multi-omics offerings, and our Signals software business, we have unique capabilities which put us in an optimal position to accelerate breakthrough solutions – starting with preclinical research and scientific discovery, all the way through to diagnosing and helping to treat disease."
Changes to Brand Architecture
- Industry leading franchises, BioLegend, EUROIMMUN, Tulip Diagnostics and ViaCord retain their own names as unique product lines.
- The Company's comprehensive scientific software platform, previously known as PerkinElmer Informatics, will become Revvity Signals Software, Inc.
- Revvity Omics replaces PerkinElmer Genomics as the Company's genomics services business.
- Cisbio, Horizon Discovery, Nexcelom Bioscience, Omni International, Oxford Immunotec, SIRION Biotech and SonoVol will now identify as Revvity, while maintaining their specific product names.
Visit the "Our Story" page for more on the Company's evolution and download the corporate fact sheet to get a full list of facts and figures.
What's ahead?
- Revvity's Q1 earnings webcast is scheduled on May 11, 2023 at 8:00 a.m. ET. Register here.
- The Company will trade under its new name and the stock ticker symbol "RVTY" at market open on May 16, 2023. At the same time its 1.875% Notes due 2026 will begin trading under "RVTY 26." Members of the Revvity team will commemorate the new name, brand and stock ticker by ringing the bell that morning at the New York Stock Exchange. A livestream of the ceremony can be viewed here.
- Roadshows intended for existing and prospective customers will be scheduled in select global markets to introduce the new brand and latest innovations. Follow Revvity's social media channels for updates.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as "believes," "intends," "anticipates," "plans," "expects," "estimates," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) the effect of the COVID-19 pandemic on our sales and operations; (3) fluctuations in the global economic and political environments; (4) our failure to introduce new products in a timely manner; (5) our ability to execute acquisitions and divestitures, license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (6) our ability to compete effectively; (7) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (8) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (9) disruptions in the supply of raw materials and supplies; (10) our ability to retain key personnel; (11) significant disruption in our information technology systems, or cybercrime; (12) our ability to realize the full value of our intangible assets; (13) our failure to adequately protect our intellectual property; (14) the loss of any of our licenses or licensed rights; (15) the manufacture and sale of products exposing us to product liability claims; (16) our failure to maintain compliance with applicable government regulations; (17) regulatory changes; (18) our failure to comply with healthcare industry regulations; (19) economic, political and other risks associated with foreign operations; (20) our ability to obtain future financing; (21) restrictions in our credit agreements; (22) significant fluctuations in our stock price; (23) reduction or elimination of dividends on our common stock; and (24) other factors which we describe under the caption "Risk Factors" in our most recent annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
About Revvity
At Revvity, "impossible" is inspiration, and "can't be done" is a call to action. Revvity provides health science solutions, technologies, expertise and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what's possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more.
With 2022 revenue of more than $3 billion and over 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 190 countries.
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