Inverness Medical Innovations Agrees to Acquire 'Second Territory' Rapid Diagnostics Busine...(lts for calendar year 2008 as well worki...),Health

Date:3/19/2009

lts for calendar year 2008, as well working capital and other customary adjustments. Inverness does not presently intend to obtain financing from outside sources for this acquisition. Instead, Inverness expects to self-finance the transaction from cash on hand and its ongoing cash flows, and has the ability to pay a portion (up to approximately 34%) of the purchase price in shares of Inverness common stock valued as of the date that the shares are issued. The purchase price will be paid in a series of payments, the first to occur at Closing and the last to occur in October 2011.

Ron Zwanziger, Chief Executive Officer of Inverness, stated: "We have been very pleased with our first acquisition from ACON in 2006. Our initial success combined with our ongoing business relationship with ACON made the decision to proceed with the Second Territory an easy one. ACON's 2008 revenues for this business were approximately $45 million at attractive operating margins. We are very pleased to have entered into this agreement, particularly when considering today's worldwide economic challenges, and similar to the 2006 acquisition, we are confident that this transaction will prove beneficial to employees, customers, ACON, Inverness and its investors."

About Inverness Medical Innovations

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 at home. Inverness' global leading products and services, 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 more information about Inverness Medical Innovations, please visit our website at '/>"/>

SOURCE Inverness Medical Innovations, Inc. Copyright©2009 PR Newswire. All rights reserved

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