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:1/18/2017)... ... January 18, 2017 , ... uBiome, the leading ... by its Science Editor, Dr. Elisabeth Bik, in the December 2016 issue of ... joined uBiome in October 2016 from her previous position at Stanford University School ...
(Date:1/18/2017)... 2017 /PRNewswire/ - SQI Diagnostics Inc. (TSX-V: SQD; ... that develops and commercializes proprietary technologies and products ... today announced that Cameron Prange , President ... from its Board of Directors.  Mr. Prange,s resignation ... that have limited both his ability to act ...
(Date:1/17/2017)... 17, 2017  An international team of researchers ... St. Boniface Hospital Albrechtsen Research Centre/University of Manitoba ... unmet health need affecting nearly one in 15 ... Investigation, their results identify small molecule drugs with ... neuronal injury in animal models of metabolic, chemical ...
(Date:1/17/2017)... 17, 2017 Research and Markets has ... Diagnostics - Technologies, Markets and Companies" to their offering. ... ... remarkably during the past few years. More than 1,000 companies ... and 342 of these are profiled in the report along ...
Breaking Biology Technology:
(Date:1/18/2017)... 2017 MedNet Solutions , an ... entire spectrum of clinical research, is proud to ... for the organization in terms of corporate growth, ... products and services. The company,s exceptional achievements can ... iMedNet ™ – ...
(Date:1/11/2017)... DES MOINES, Iowa , Jan. 11, 2017 /PRNewswire/ ... another industry first with the release of its patent-pending ... to quickly and reliably perform calibrations, securely upload data ... more flexibility for the customer. "Fighting drunk ... not only for the public at large, but also ...
(Date:1/4/2017)...  For the thousands of attendees at this year,s International Consumer Electronics ... and biometric measurement devices and services, will be featuring its new line ... A&D Medical,s special CES Exhibit Suite , the new upper arm ... company,s WellnessConnected product platform.  ... ...
Breaking Biology News(10 mins):