WALTHAM, Mass., Feb. 13 /PRNewswire-FirstCall/ -- Inverness Medical Innovations (Amex: IMA) today announced that its previously announced acquisition of BBI Holdings Plc was successfully completed on February 12, 2008. BBI, located in the United Kingdom, specializes in the development and manufacture of non-invasive lateral flow tests and has achieved a global reputation for manufacturing superior quality gold reagents. The final purchase price consisted of cash of approximately pounds Sterling 63.2 million, or approximately $123.2 million, and approximately 251,300 shares of Inverness common stock. In addition, existing options to purchase BBI stock have been assumed and have converted into options to purchase approximately 360,000 shares of Inverness common stock.
For additional information on BBI, please visit http://www.bbigold.com
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.
|SOURCE Inverness Medical Innovations|
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