Navigation Links
Inverness Medical Innovations Agrees to Acquire Panbio Ltd.
Date:10/8/2007

WALTHAM, Mass., Oct. 8 /PRNewswire-FirstCall/ -- Inverness Medical Innovations (Amex: IMA) today announced that it has entered into a Scheme Implementation Agreement with Panbio Ltd, an Australian company traded on the Australian Securities Exchange, under which it is proposed that Inverness will acquire all of the issued shares in Panbio for AUD 0.65 cash per share. The proposed Scheme, which values the issued share capital of Panbio at approximately AUD 41 million, or approximately USD 37 million, is subject to approval by Panbio shareholders at a meeting expected to be held in December 2007 as well as various other conditions.

Panbio, an international diagnostics company headquartered in Brisbane, Australia, develops, manufactures and markets diagnostic tests, including tests used in the diagnosis of flaviviruses and other arthropod-borne viruses, to a worldwide customer base. In particular, Panbio's position in the dengue fever diagnostic market will help Inverness to achieve its goal of promoting personal health worldwide by responding to the recent spread of the disease throughout South America and elsewhere. Panbio's business and Inverness' existing Australian professional diagnostics business are based in Brisbane, Australia.

About Inverness

By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness' products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts. For additional information on Inverness Medical Innovations, please visit http://www.invernessmedical.com.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, including statements regarding potential synergies and benefits of the proposed business combination. These statements reflect the parties' current views with respect to future events and are based on their respective management's current assumptions and information currently available. Actual results may differ materially due to numerous factors including, without limitation, risks associated with market and economic conditions; Inverness' ability to consummate the acquisition which is subject to approval of Panbio's shareholders and other conditions to closing; Inverness' ability to integrate this and other acquisitions and to recognize expected benefits; Inverness' ability to continue to successfully develop and manufacture diagnostic testing products and to commercialize products; and the risks and uncertainties described in Inverness' annual report on Form 10-K, as amended, for the year ended December 31, 2006, and other factors identified from time to time in its periodic filings with the Securities and Exchange Commission. Inverness undertakes no obligation to update any forward-looking statements contained herein.


'/>"/>
SOURCE Inverness Medical Innovations
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Medical College receives $377K to study brain disease
2. Barriers will not stop convergence of medical technologies
3. Medical College team creates website for tracking flu
4. Biomedical engineering conference invites manufacturers
5. Visions: Wade offers straight talk on e-medical records
6. Merge unveils updated medical imaging software
7. Medical College receives $1.4M cancer grant
8. Medical technology firm lands $100K federal grant
9. Doyle outlines spending for Medical College, UWM
10. And the winners in medical design are
11. Manufacturing partnership will move into biotech and biomedical spaces
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/16/2017)... ... 16, 2017 , ... While art and science are often thought of as ... might think. A Mesh Is Also a Snare, a group exhibition presented by ... Esther Klein Gallery (EKG) on August 17 and run through September 30. An opening ...
(Date:8/16/2017)... and OXFORD, England , Aug. ... -based consortium for biotech executive search and leadership development, and ... Healthcare sectors, have created an exclusive alliance that enables clients ... "For our clients here in ... provides unparalleled access to a diverse population of leadership talent ...
(Date:8/15/2017)... ... 15, 2017 , ... Pittcon is pleased to once again ... instruments. This year’s symposium, organized by the Pittcon 2018 program chair, Annette Wilson, ... This dynamic presentation will discuss novel ionization processes, high throughput IMS-MS technologies, and ...
(Date:8/15/2017)... , ... August 15, 2017 , ... ... is threatened by various biotic and abiotic factors. During this educational webinar, participants ... of coffee, as well as gain a better understanding of how genomics is ...
Breaking Biology Technology:
(Date:4/17/2017)... MELBOURNE, Florida , April 17, 2017 ... security technology company, announces the filing of its 2016 Annual Report ... Securities and Exchange Commission. ... Report on Form 10-K is available in the Investor Relations section ... well as on the SEC,s website at http://www.sec.gov . ...
(Date:4/11/2017)... BROOKLYN, N.Y. , April 11, 2017 /PRNewswire-USNewswire/ ... identical fingerprints, but researchers at the New York ... University College of Engineering have found that partial ... fingerprint-based security systems used in mobile phones and ... previously thought. The vulnerability lies in ...
(Date:4/5/2017)... 2017 KEY FINDINGS The global ... a CAGR of 25.76% during the forecast period of ... factor for the growth of the stem cell market. ... MARKET INSIGHTS The global stem cell market is ... geography. The stem cell market of the product is ...
Breaking Biology News(10 mins):