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Inverness Medical Innovations Agrees to Acquire ParadigmHealth
Date:11/26/2007

WALTHAM, Mass., Nov. 26 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. (AMEX: IMA) today announced that it has entered into a definitive agreement to acquire ParadigmHealth, Inc. ParadigmHealth, headquartered in New Jersey, is a leading provider and integrator of care and disease management services for acutely ill and clinically complex patients, including neonatal intensive care and oncology patients.

Commenting on the agreement, Ron Zwanziger, CEO of Inverness stated: "The acquisition of ParadigmHealth is a significant step in our strategy to become a leader in disease and health management services. When combined with our prior acquisitions of QAS and Alere, ParadigmHealth will contribute to our goal of enabling individuals to manage their health effectively."

John Penrose, CEO of ParadigmHealth, added, "We're very pleased to be joining the Inverness family of companies because our objectives are the same: to help patients, their families, and their physicians make better health choices and to improve care by providing information, coaching support, and advanced technologies. Our focus on the high acuity complex patient and our decision support technology will be a perfect complement to the products and services of Inverness and its new subsidiary Alere."

The transaction is structured as an all cash deal, with a purchase price of approximately $230 million. The company is operating profitably and the past twelve months revenues were approximately $60 million. Closing is conditioned on clearance under the Hart-Scott Rodino Act, approval by ParadigmHealth's stockholders, and other customary closing conditions.

Inverness was represented by Goodwin, Procter and advised by Covi
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SOURCE Inverness Medical Innovations
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