Fourth-quarter losses for Alere (NYSE:ALR) soared nearly 500%, the diagnostics giant said yesterday after filing its overdue annual report for 2016 but ahead of its self-imposed June 15 deadline. Waltham, Mass.-based Alere said in March that it would miss the deadline for releasing last year’s results due to an investigation of inappropriate conduct at its South Korean Standard […]
Alere
Alere ticks up on delayed Q4, 2016 prelims
Share prices ticked up today for Alere (NYSE:ALR) after the diagnostics company released long-delayed preliminary financial results for the 4th quarter and full year 2016. Waltham, Mass.-based Alere said in March that it would miss the deadline for releasing last year’s results due to an investigation of inappropriate conduct at its South Korean Standard Diagnostics subsidiary. It […]
Alere’s Medicare ban upheld by judge for Arriva diabetes unit
Alere (NYSE:ALR) said today that federal judge upheld a ban imposed on its Arriva Medical diabetes division by the Centers for Medicare & Medicaid Services, vowing to appeal the decision barring the unit from government insurance reimbursement. Arriva, which makes durable medical equipment for diabetic testing, was informed last October that its Medicare enrollment would be revoked by […]
Abbott CEO White optimistic on Alere buy
Abbott (NYSE:ABT) CEO Miles White is optimistic about the company’s upcoming acquisition of Alere despite previous concerns and attempts to sink the deal, according to a SeekingAlpha transcript of the company’s Q1 earnings call. White called the company a “fixer upper”, but stated that he was “pleased to have the resolution of this matter behind […]
Abbott agrees to lower, $5.3B price for Alere
Abbott (NYSE:ABT) agreed to go through with its plan to acquire diagnostics giant Alere (NYSE:ALR), but at the much lower price of $5.3 billion. Originally priced at $5.8 billion when it was announced in February 2016, the deal ran into trouble right out of the gate as a string of setbacks befell Alere. By December 2016 Abbott had sued to stop […]
Alere gains on judge’s dissent in different case
Shares in Alere (NYSE:ALR) closed up more than 3% last week as investors reportedly reacted to a Delaware state judge’s dissent in an unrelated case. Investors in the diagnostics giant, which is fighting an attempt by Abbott (NYSE:ABT) to spike their $6 billion merger, viewed a dissenting opinion in a case involving a different deal as a good sign. In that […]
Alere misses extended 10-K filing date
UPDATE: Updated to include new information on Alere’s suit against CMS Alere (NYSE:ALR) said today it will be unable to file its annual 10-K report by its extended March 16 deadline due to an investigation of inappropriate conduct at its South Korean Standard Diagnostics subsidiary. The Waltham, Mass.-based company filed for the extension on March 1 […]
Alere slides after revealing new Asia accounting snafu
UPDATED March 1, 2017, with analyst comment, share price. Alere (NYSE:ALR) said today that it’s once again unable to file its annual report by the deadline, after an ongoing probe into its accounting practices turned up yet another irregularity, this time with how it recognized revenues in Asia. The news adds fuel to the fire over the […]
Abbott wins FDA nod for MRI-safe Assurity pacemaker
Abbott (NYSE:ABT) said today that the FDA approved magnetic resonance-conditional labeling for its Assurity MRI pacemaker and its Tendril MRI pacing lead. The federal watchdog’s approval makes its Assurity device the world’s smallest, longest-lasting wireless MRI-compatible pacemaker, the company reported. During an MRI scan, Abbott’s MRI Activator device triggers pre-programmed MRI settings for the Assurity pacemaker, eliminating the need […]
EU anti-trust regulators OK Abbott-Alere deal
Anti-trust regulators in the European Union may be OK with the pending, $5.8 billion union of Alere (NYSE:ALR), but Abbott (NYSE:ABT) still wants out of the deal. The Chicago-area healthcare giant, which posted its 4th-quarter results earlier today, sued last month to stop the merger. Today the EU regulators on the European Commission approved the merger, subject to […]
Alere sues CMS to reinstate its Arriva diabetes unit
Alere (NYSE:ALR) yesterday said that it’s suing to force the Centers for Medicare & Medicaid Services to reinstate its Arriva diabetes division’s enrollment, after the government health insurer yanked the accreditation last month over issues with an excess of claims submissions for deceased patients. Arriva, which develops durable medical equipment for diabetic testing, was informed Oct. 12 that […]
