Inverness buys POC (point-of-care) firm for $33m:
This article was originally published in Clinica
Inverness Medical Innovations has notched up its ninth acquisition of 2007, after buying point-of-care (POC) diagnostics distributor Bio-Stat Healthcare for $33.4m. Inverness will pay an earn-out of up to $14.6m based on Bio-Stat's 2007 financial results. Stockport, UK-based Bio-Stat, which recorded revenues of $29.5m in 2006, will provide Inverness with further presence in the European market after it purchased Promesan, an Italian POC test distributor in February (see Clinica No 1243, p 14). Inverness has also purchased Cholestech, Matritech, HemoSense, Biosite, Spectral Diagnostics, First Check Diagnostics and Med-Ox this year, as well as buying a 75% stake in Instant Technologies.