Inverness gets cardiac diagnostics services for $302m
This article was originally published in Clinica
Inverness Medical Innovations is set to scoop up Alere Medical, a Reno, Nevada-based healthcare service provider to patients suffering from chronic illnesses. The deal, expected to close before the end of 2007, will be worth $302m - a combination of approximately $125m in cash and $177m in Inverness shares. Alere will provide Inverness with a business forecast to generate revenues of $77m in 2007. While offering a range of services in the disease management industry, it specialises particularly in at-home monitoring of chronic heart failure - an aspect that complements the cardiac diagnostics technologies developed by Inverness's Biosite and Stirling Medical subsidiaries.