Navigation Links
Inverness Medical Innovations Acquires Bio-Stat Healthcare Group

WALTHAM, Mass., Oct. 3 /PRNewswire-FirstCall/ -- Inverness Medical Innovations (Amex: IMA) today announced that it has acquired Bio-Stat Healthcare Group, a distributor of both core laboratory and point of care diagnostic testing products to the UK market place, for approximately $33.4m. In addition Inverness will pay an earn out up to a maximum of approximately $14.6m based on Bio-Stat's 2007 results. Bio-Stat had revenues of approximately $29.5m in 2006 and has been operating profitably.

Commenting on the transaction, Ron Zwanziger CEO of Inverness said, "We are very pleased to add Bio-Stat to the family of Inverness companies. This acquisition significantly enhances our presence in the UK market."

David Horne, Managing Director of Bio-Stat says, "We at Bio-Stat are very excited about the acquisition. Our inclusion in the Inverness group will give us access to an even more impressive range of products and we will be able to offer improved services as well as continue to build on our reputation for outstanding customer satisfaction".

IDJ International acted as financial advisor and Allen & Overy LLP as legal counsel to Inverness. Grant Thornton UK LLP acted as financial advisor and Heatons LLP acted as legal counsel to Bio-Stat.

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 For additional information on the Bio-Stat Healthcare Group, please visit

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 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 medicine news :

1. Check if your “Favourite medical web-site” is indulging in Quackey
2. Teens turning to Internet for medical queries
3. Robots craft medical history
4. NBE to conduct test for medical students from abroad
5. Air pollution combined with greater medical needs
6. Indian Nationals with Foreign Medical Degrees can now practice in India
7. Children! Protecting them from medical mistakes
8. More information sought by patients on medical errors
9. SARS necessitates medical masks
10. Meditation Works Medically
11. Sleep Disorders Could Indicate Other Medical Problems
Post Your Comments:
(Date:6/26/2016)... ... June 26, 2016 , ... PawPaws brand pet ... product that was developed to enhance the health of felines. The formula is all-natural ... two main herbs in the PawPaws Cat Kidney Support Supplement Soft Chews ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... and applications at AcademyHealth’s Annual Research Meeting June 26-28, 2016, at the Hynes ... important health care topics including advance care planning, healthcare costs and patient and ...
(Date:6/25/2016)... ... June 25, 2016 , ... "With 30 hand-drawn hand gesture animations, ... Christina Austin - CEO of Pixel Film Studios. , ProHand Cartoon’s package transforms ... Final Cut Pro X . Simply select a ProHand generator and drag it above ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. Calvin Johnson ... Recently, he has implemented orthobiologic procedures as a method for treating his patients. ... the first doctors to perform the treatment. Orthobiologics are substances that orthopaedic surgeons ...
(Date:6/24/2016)... ... June 24, 2016 , ... A recent article published ... unfamiliar with. The article goes on to state that individuals are now more comfortable ... less common operations such as calf and cheek reduction. The Los Angeles area medical ...
Breaking Medicine News(10 mins):
(Date:6/24/2016)... According to a new market ... Needles, Safety Pen Needles), Needle Length (4mm, 5mm, 6mm, ... of Purchase (Retail, Non-Retail) - Trends & Global Forecasts ... market for the forecast period of 2016 to 2021. ... by 2021 from USD 1.65 Billion in 2016, growing ...
(Date:6/23/2016)... HOUSTON , June 23, 2016  MedSource ... platform as its e-clinical software solution of choice.  ... the best possible value to their clients by ... nowEDC.  The preferred relationship establishes nowEDC as the ... pricing for MedSource,s full-service clients.  "nowEDC has long ...
(Date:6/23/2016)... , June 23, 2016  In a startling report released today, ... their residents by lacking a comprehensive, proven plan to eliminate prescription ... definitive ranking of how states are tackling the worst drug crisis ... four states – Kentucky , New ... Vermont . Of the 28 failing states, three – ...
Breaking Medicine Technology: