Inverness gets healthy for $130 million in Free & Clear buyout

September 21, 2009 by MassDevice staff

The Waltham, Mass.-based diagnostics maker buys Seattle's Free & Clear, which provides programs aimed at improving health, for $100 million in cash and up to $30 million in revenue-pegged contingencies.

Inverness Medical Innovations logo

Inverness Medical Innovations Inc. agreed to acquire Free & Clear Inc., a Seattle-based health management firm, for $100 million in up-front cash and up to $30 million more pegged to 2010 revenues.

The Waltham, Mass.-based diagnostics company said it will run the new business under its Alere consumer health management subsidiary.

Free & Clear, which posted $47.1 million in sales last year, provides evidence-based programs aimed at chronic disease triggers such as tobacco use, poor nutrition, physical inactivity and stress.