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PKI > SEC Filings for PKI > Form 8-K on 22-Jul-2013All Recent SEC Filings

Show all filings for PERKINELMER INC



Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01. Entry into a Material Definitive Agreement

On July 18, 2013, PerkinElmer Health Sciences, Inc. ("PerkinElmer Health Sciences"), an indirect wholly owned subsidiary of PerkinElmer, Inc., entered into a purchase and sale agreement (the "Agreement") for the sale of the PerkinElmer Health Sciences' facility located at 549 Albany Street, Boston, Massachusetts (the "Property") for $49.5 million to Senior Housing Properties Trust.

Under the terms of the Agreement, simultaneously with the closing of the sale of the Property, PerkinElmer Health Sciences will enter into a lease agreement (the "Lease") with Senior Housing Properties Trust or its designee whereby PerkinElmer Health Sciences will lease back the Property for its continued use as an office, laboratory, production and distribution facility.

The Lease has an initial term of 15 years commencing upon the execution of the Lease. Pursuant to the terms of the Lease, PerkinElmer Health Sciences will pay an initial base annual rent of $3.1 million. After the first year of the Lease, the base rental amount will increase annually by 2.25%. PerkinElmer Health Sciences has the right to extend the term of the Lease for two additional periods of ten years each.

These transactions are subject to customary closing conditions, including satisfactory completion of a due diligence period, and are expected to close in the third quarter of 2013.

The foregoing description of the Agreement and related matters is qualified in its entirety by reference to the Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits

See Exhibit Index attached hereto.

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