Alere Inc. (NYSE:ALR), formerly Inverness Medical Innovations, said it is increasing its debt offering by another $50 million, bringing the total up to $400 million in notes offered to foreign institutional investors.
The Waltham, Mass.-based personal health firm previously said it would issue some $350 million in convertible debt as senior subordinated notes via a private placement under regulatory rules that don’t require the securities to be registered. Under Regulation S of the Securities Act, the notes can’t be sold in the U.S. unless they’re registered with the federal Securities & Exchange Commission.