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.