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Inverness Medical Innovations Announces Proposed Public Offering of Common Stock
Date:11/8/2007

WALTHAM, Mass., Nov. 8 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. (Amex: IMA), announced today that it is offering to sell, subject to market and other conditions, 7,000,000 shares of its common stock pursuant to an effective shelf registration statement in an underwritten public offering. Certain selling stockholders of the Company are also offering to sell up to 165,698 shares of common stock in the offering. The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,074,854 shares of common stock to cover over-allotments, if any. The Company will not receive any proceeds from the sale of the shares by the selling stockholders.

Inverness intends to use the net proceeds from the offering for working capital and other general corporate purposes, including the financing of potential acquisitions or other investments, if and when suitable opportunities arise, and for capital expenditures. Inverness also may use a portion of the net proceeds to fund its pending acquisition of Panbio Ltd.

UBS Investment Bank, Jefferies & Company and Merrill Lynch, Pierce, Fenner & Smith Incorporated are acting as joint book-running managers for the offering. Leerink Swann LLC and Stifel, Nicolaus & Company, Incorporated are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with and declared effective by the Securities and Exchange Commission. The offering may be made only by means of a prospectus supplement and the accompanying prospectus. A copy of the preliminary prospectus supplement and accompanying prospectus related to this offering may be obtained by calling the Prospectus Department at UBS Investment
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SOURCE Inverness Medical Innovations
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