Inverness Bids on Matria Healthcare
Georgia-based health management firm Matria Healthcare, Incorporated received an acquisition offer from Inverness Medical Innovations, Incorporated. The two have now completed a definitive merger agreement. Included in the $1.18 billion cash and stock offer is the assumption of $280 million in debt. News of the planned acquisition was described by Inverness in a press release.
Matria is a disease management organization that specializes in the care of women with high risk pregnancies. The organization also provides health enhancement and disease management services for the general population. Matria currently provides services for more than 1,000 different provider organizations and employers.
The acquisition of Matria further expands Inverness’s holdings in disease management. Matria will expand their offerings specifically for women’s health, which complements some of the existing diagnostic technology owned by Inverness. Matria also brings to the table a strong portfolio for oncology services.
Inverness plans to integrate Matria as a wholly owned subsidiary. Included in that subsidiary are other disease management organizations that have been recently acquired by Inverness. One entity purchased in October 2007 is Alere Medical, which was described on Hospital Buyer in addition to multiple other purchases.
The deal still requires the approval of the Matria Board of Directors. Assuming that this hurdle is achieved, the deal is anticipated to be finalized during the second quarter of 2008.
January 31, 2008 Related topics: Mergers & Acquisitions