Despite Legal Dispute, Abbott Set To Buy Alere for $5.3bn
Soon before it was set to take Alere to court in an attempt to break out of an acquisition deal, Abbott has reversed course and plans to buy the company for half a billion less than the original price tag.
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US Joins FCA Case Against Alere Unit
Alere subsidiary Arriva Medical routinely gave Medicare beneficiaries glucometers they didn’t need and billed the government for them, a recently unsealed lawsuit claims.
Alere's $33.2m Settlement May Reflect Growing US Fed Focus On Dx
Abbott subsidiary Alere is paying $33.2m to settle allegations the company knowingly allowed hospitals to bill for tests performed using unreliable diagnostics marketed by the company. It's one of the first times that US DoJ has held a company responsible for false claims filed due to faulty test results.
Device/Diagnostics Quarterly Deal-Making Statistics, Q3 2017
Third-quarter device financing at $2.38 billion – almost half of that amount from CooperSurgical's $1.1 billion bridge loan – was double the Q2 total, while device acquisitions showed a steep decrease at $3.38 billion versus Q2's $33.4 billion. Diagnostics fundraising also was up in the third quarter, reaching $2.4 billion (a 133% increase over Q2) mostly from Thermo Fisher Scientific's $1.5 billion follow-on offering, which accounted for 63% of the total. In line with the previous quarter's $1.7 billion in M&A, Q3 diagnostics acquisitions had an aggregate value of $1.8 billion, led by Konica Minolta's $1 billion buy of Ambry Genetics.