Inverness Medical Innovations Inc. (NYSE:IMA) is hitting the acquisitions trail hard in 2010.
The Waltham, Mass.-based diagnostics and lab equipment maker closed its deal to buy a three-quarters stake in Korean rapid diagnostics maker Standard Diagnostics (KDQ:066930) for up to $216.6 million.
Inverness bid about $35.72 per share for 75.79 percent or just more than 6 million shares of Standard Diagnostics, provided that at least roughly 2.4 million shares, or 30 percent of the total issued, were tendered.