Inverness Acquires Health Services Management Organization
Alere Medical, Incorporated announced October 24th that they have are being acquired by Inverness Medical Innovations, Incorporated. The purchase price is $302 million; $125 in cash and $177 in common stock from Inverness. The deal is expected to be complete by year’s end.
Alere provides comprehensive health support, including care management services, for patients with chronic illnesses. Services offered include patient education, nurse-patient relationships, and home-based monitoring, One particular disease area that the organization has developed includes management of patients with chronic heart failure. Inverness will complement management of these patients with a variety of tests for cardiac diagnostics and monitoring.
The acquisition of Alere complements the existing product line of diagnostic tests from Inverness. As well, it provides the means for Inverness to expand their business by exploring disease management, parlaying the Alere experience in that arena. This offers an excellent opportunity for growth.
Inverness has had made numerous acquisitions during the past year, many of which were detailed on Hospital Buyer.
Related stories:
- Inverness Plans to Acquire Panbio Limited
- Matritech Signs Deal to be Acquired by Inverness
- Inverness Buys Again
- Inverness to Purchase Cholestech
October 29, 2007 Related topics: Mergers & Acquisitions, Corporate Financials