When PerkinElmer’s diagnostics and life sciences businesses separated from its food safety, environmental testing and industrial quality assurance segments and rebranded as Revvity earlier this year, Alan Fletcher, Ph.D. senior vice president of the company’s life sciences division, told Fierce Medtech that the newly streamlined structure “allows us to get more products to the market in a much faster way.”
Barely six months after the split, that already seems to be coming true. In that time, Revvity has churned out a handful of new product launches, from drug development software to single-cell profiling tech. The latest additions to the lineup debuted Tuesday, as Revvity pulled back the curtains on four new imaging systems.
They include upgrades to the existing IVIS Spectrum and Quantum GX families of scanners as well as the global launch of the Vega ultrasound system, which began a North America-only rollout last year.
“With these advanced tools at their disposal, researchers can interrogate biology, streamline their workflows and accelerate the pace of scientific advancement,” Fletcher said in this week’s announcement.
“In a time when innovative technologies steer medical advancements, we are committed to delivering versatile, high-throughput solutions that enhance preclinical R&D productivity,” he continued. “Our growing portfolio equips researchers with robust capabilities to illuminate scientific discoveries and can expedite the journey from discovery to cure.”
Topping the lineup are the IVIS Spectrum 2 and SpectrumCT 2 imaging systems, which Revvity painted as its “new flagship platforms.” The upgraded IVIS machines offer 2D and 3D bioluminescence and fluorescence imaging to perform high-sensitivity in vivo scanning of up to 10 specimens at once; the SpectrumCT edition adds low-dose CT imaging into the mix, too. The scanners are meant to be used by researchers analyzing diseases, cell movements and other biological processes, the safety and efficacy of new drugs and more.
The Quantum GX3 microCT system, meanwhile, can perform both in vivo and ex vivo imaging, allowing scientists to apply the “highest spatial resolution available on the market today,” per Revvity, to scans of small bones and soft tissues among other biological specimens.
Finally, the Vega machine is a hands-free, automated ultrasound scanner. It produces 2D and 3D in vivo scans within a few minutes and captures a wide image with an aim of showing the larger effects of the disease or treatment being target by the scan. Revvity said the system is specifically designed to aid in the development of new drugs in areas such as oncology, liver issues, kidney disease and cardiology.
In its first full quarter as a life sciences and diagnostics company—after PerkinElmer’s non-medtech divisions were sold off to private equity firm New Mountain Capital in mid-March—Revvity saw its overall revenues shrink, though earnings in the life sciences division were on the upswing.
The company’s total revenues dropped to $709 million in the second quarter, down more than 20% from the $896 million the life sci and diagnostics businesses had taken in a year prior. Diagnostics specifically saw a 34% year-over-year drop, thanks in large part to plummeting COVID-19 testing revenues, but that downward plunge was slightly offset by the life sciences division’s 3% growth.