Alere (NYSE:ALR) shares took a hit today after revealing a U.S. Justice Dept. subpoena for documents on its sales practices in Africa, Asia and Latin America under the Foreign Corrupt Practices Act, as it prepared for its nearly $6 billion acquisition by Abbott (NYSE:ABT). The March 11 subpoena asks for documents on Alere’s dealings with 3rd-party distributors and […]
Alere
Alere sells BBI, buys U.S. Diagnostics
Alere announced 2 major transactions today, selling its BBI diagnostics business and acquiring the assets of U.S. Diagnostics. The company is selling its BBI business to U.K.-based Exponent Private Equity for approximately $164 million, including up to $47 million in contingent consideration, Alere said. The final price will be subject to a working capital adjustment, […]
Founders buy back Alere Analytics, rebrand as Persivia
The husband-and-wife team that founded the company that eventually became Alere Analytics bought the business back and rebranded it as Persivia. Financial terms were not disclosed. Persivia CEO Mansoor and chief medical officer Dr. Fauzia Khan in 2012 sold DiagnosisOne to Alere, which the next year renamed it as Alere Analytics, before deciding to sell […]