Inverness Medical Innovations Enters Into a Definitive Agreement to Acquire Matria Health... (of regulatory and other customary condit...)

Inverness Medical Innovations Enters Into a Definitive Agreement to Acquire Matria Healthcare, Inc.

Date:1/28/2008

of regulatory and other customary conditions and is expected to close during the second quarter of 2008.

Inverness is currently exploring the potential of forming a 50/50 joint venture for its health management business with unaffiliated financial investors that will allow Inverness to retain the right to repurchase the third party joint venture interest. There can be no assurance that such a joint venture will be agreed to or consummated.

Inverness was advised by UBS Investment Bank and Covington Associates, LLC and represented by Goodwin Procter LLP. Matria was represented by Troutman Sanders LLP. The Maren Group, LLC acted as the company's financial advisor and SunTrust Robinson Humphrey provided certain advisory services, specifically including the evaluation of the fairness of the consideration to be received by Matria's shareholders in the transaction from a financial point of view.

Inverness will host a conference call beginning at 10:00 a.m. (Eastern Time) today, January 28, 2008, to discuss the above. During the conference call, Inverness may answer questions concerning the definite agreement to acquire Matria and related matters. Inverness' responses to these questions, as well as other matters discussed during the conference call, may contain or constitute information that has not been previously disclosed.

The conference call can be accessed by dialing 973 582 2700 (domestic and international), an access code is not required. A telephone replay of the call will be available by dialing 706 645 9291 (domestic and international) with an access code of # 33006320. That replay will be available until 12:00 midnight (Eastern Time) on February 28, 2008.

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,
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