Navigation Links
Inverness Completes Acquisition of Cholestech

WALTHAM, Mass., Sept. 12 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc. (Amex: IMA), a leading manufacturer and marketer of rapid diagnostic products for the consumer and professional markets, announced today the successful completion of its acquisition of Cholestech Corporation (Nasdaq: CTEC). Inverness completed the acquisition through the merger of a wholly owned subsidiary with and into Cholestech, after Cholestech's shareholders approved the deal at a shareholder's meeting today. Cholestech is a leading provider of diagnostic tools and information for immediate risk assessment and therapeutic monitoring of heart disease and inflammatory disorders.

"The acquisition of Cholestech together with our recent and pending acquisitions, provides Inverness with the unique ability to assess cardiac risk, diagnose cardiac conditions and potentially monitor the condition and response to therapy of cardiac patients. The Cholestech LDX System is one of the most established and respected monitoring platforms available to physicians and patients and we believe that this added access to physicians' office laboratories will provide broad benefits for many Inverness and Biosite products," stated Ron Zwanziger, Chairman, President and Chief Executive Officer of Inverness. "We welcome Cholestech and its associates to the Inverness Medical family."

As a result of the merger, Cholestech stockholders received .43642 shares of Inverness common stock for each Cholestech share, resulting in an aggregate issuance of approximately 6,801,946 shares of Inverness common stock. Additionally, each option to purchase shares of Cholestech common stock outstanding prior to the completion of the acquisition has been converted into a right to acquire Inverness shares, at the same exchange ratio of .43642. Cholestech shares will cease trading at the close of business on September 12, 2007 and will be delisted from the Nasdaq.

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 our website at

This press release may contain forward-looking statements within the meaning of the federal securities laws. These statements reflect Inverness' current views with respect to future events and are based on management's current assumptions and information currently available. Actual results may differ materially due to numerous factors, including, without limitation, the demand for Cholestech's products, Inverness' ability to integrate Cholestech's business with its existing businesses and to recognize the anticipated benefits of the acquisition, including synergies and accretion, of the transaction; the risks and uncertainties described in Inverness' annual report on Form 10-K/A for the period 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, Inc.
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. iGATE Completes Phase I Testing Of Meningitis Vaccine
2. Delhi Hospital Completes 100 Liver Transplants
3. Roche Completes Acquisition of BioVeris
4. AEternas acquisition of Zentaris being followed up with its new product pipeline and clinical development strategy
5. Leading Biotech Companies Are Interested In Acquisition Of Smaller Companies
6. NHS financial crisis may lead to roll back of flexi-work scheme and private acquisition
7. Smoking Increases Risk of HIV Acquisition
8. Circassia Announces Acquisition of Organ Transplant Anti-Rejection Technology
Post Your Comments:
(Date:12/1/2015)... , ... December 01, 2015 , ... ... radiographic technicians must mark the film for accurate interpretation by the radiologist. The ... Fortunately, an inventor from Sacramento, Calif., has found a way to alleviate this ...
(Date:12/1/2015)... ... December 01, 2015 , ... ... (BHCOE) today announced that the organization has awarded Education and Developmental Therapies (EDT), ... Distinguished Award. The award celebrates exceptional special needs providers that excel in synthesizing ...
(Date:12/1/2015)... , ... December 01, 2015 , ... Lutronic, a leading ... Clarity, the latest addition to the devices for sale in the United States. ... Alexandrite and long-pulsed 1064 nm Nd:YAG lasers, into a single platform that is easy ...
(Date:12/1/2015)... ... December 01, 2015 , ... XTC Semifinals 2016 ... semi-finalists to head to Las Vegas for CES 2016, the world’s largest Consumer Electronic ... Consumer Technology Association Gary Shapiro, Founding Partner of Pacific Investments Veronica Serra, and venture ...
(Date:12/1/2015)... , ... December 01, 2015 , ... Nurotron Biotechnology Co., ... its largest order to date. , The order will be from the China ... Venus Cochlear Implant System is an effective solution for children and adults suffering from ...
Breaking Medicine News(10 mins):
(Date:12/1/2015)... , Dec. 1, 2015  Athletic apparel ... founder have agreed to pay $1.35 million to ... advertised the company,s copper-infused compression clothing would relieve ... arthritis and other diseases. Tommie ... requires the company and its founder and chairman ...
(Date:12/1/2015)... , Dec. 1, 2015 Assurex Health, ... GeneSight® Psychotropic test giving healthcare providers an expanded range ... for patients suffering from depression, anxiety, bipolar disorder, ... health conditions. i .   ... With the addition of two new drug ...
(Date:12/1/2015)... Calif. , Dec. 1, 2015 ... products and services, announced today that it has been ... services organization. Members served by Novation will have access ... devices, sports bracing products and soft goods dedicated to ... --> The aging U.S. population, rising prevalence ...
Breaking Medicine Technology: