IMI (Inverness Medical Innovations) buys Indian IVD distributors:
This article was originally published in Clinica
Consistent with its move to expand its international operations, in vitro diagnostics developer Inverness Medical Innovations (IMI) is to acquire Spectral Diagnostics, a privately-held, New Delhi, India-based distributor of professional IVD products, and its assembly and packaging affiliate, Source Diagnostics (India). Waltham, Massachusetts-based IMI will pay an initial $4m in cash and stock for the companies, with the potential for an additional payment, which is tied in to achievement of sales targets, one year from closing.
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