PerkinElmer Genetics will provide clinical whole-genome sequencing, data interpretation, and diagnostic reports to IDG for patients with neurological disorders.
Last week, the company launched whole-genome sequencing of children for customers of its ViaCord cord blood and tissue banking business.
The firm said it may use the loans to finance its $1.3 billion acquisition of Euroimmun Medical Laboratory Diagnostics.
The deal is anticipated to increase diagnostics' share of PerkinElmer's business to about 38 percent of total revenues from the current 30 percent.
Euroimmun is a global leader in autoimmune testing and an emerging force in infectious disease and allergy testing, according to PerkinElmer.
PerkinElmer's subsidiary Wallac will now distribute the Amplidiag product line in Israel and in a number of countries in Africa.
The developers maintain that the new assay would address an unmet market need for a DMD screening test.
The investment bank, which maintained its $60 price target for the company's stock, said it is looking for signs of revenue acceleration.
PerkinElmer may be nearing an FDA submission for a panel based on technology from the University of Washington, amid a push for state-mandated screening programs.
The bank rated companies like Thermo Fisher Scientific and Agilent at Buy, Illumina and PerkinElmer at Hold, and Myriad Genetics and Luminex at Sell.