Medtech Insight is part of the Business Intelligence Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By


Inverness and Biosite make it official

This article was originally published in The Gray Sheet

Executive Summary

Definitive merger agreement calls for Inverness to buy heart test maker Biosite for $92.50 per share, valuing the company at roughly $1.58 billion based on Biosite's 17.1 million shares outstanding as of March 31. Announced May 17, the deal will require Biosite's payment of a $54 million breakup fee to its former merger partner Beckman Coulter, for which Biosite will be reimbursed by Inverness. Beckman Coulter had bid $90 per share, or about $1.54 billion based on Biosite's shares outstanding, and announced May 14 that it would not increase its offer. Diagnostics firm Inverness plans to "quickly leverage Biosite's strength in proprietary protein markers and robust cardiovascular platform together with [Inverness'] ongoing research and development efforts in the cardiac arena," states CEO Ron Zwanziger. The deal is expected to close in early summer (1"The Gray Sheet" May 14, 2007, In Brief)...

Related Content

Inverness Acquisition Surge Aims To Grow Annual Sales To $3 Billion By 2012
Inverness Continues 2007 Buying Spree, Adds Matritech Assets For $36 Mil.
Inverness’ even bigger bid for Biosite puts ball back in Beckman’s court



Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts