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Inverness Medical Innovations Inc.

UPDATE: Alere ups offering to $400 million

September 17, 2010 By MassDevice staff Leave a Comment

ALR logo

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.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc.

Inverness shareholders approve Alere name change

July 16, 2010 By MassDevice staff Leave a Comment

IMA logo

Inverness Medical Innovations, Inc. (NYSE:IMA) gave itself a makeover at a July 14 shareholder meeting.

Company stockholders approved the company’s name change to Alere Inc. (NYSE:ALR).

The Waltham, Mass.-based diagnostics firm created the brand Alere in 2008 after acquiring Alere Medical, ParadigmHealth and Matria Healthcare and merging them under a single umbrella. The company said it expects its NYSE stock symbol to change from IMA to ALR July 19.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc.

Inverness extends tender offer – again

June 8, 2010 By MassDevice staff Leave a Comment

IMA logo

With about $2 million in unregistered bonds still in the hands of investors, despite a pair of deadlines already gone by the boards, Inverness Medical Innovations Inc. (NYSE:IMA) added another week for stragglers to exchange those notes for new, registered versions of the debt securities.

The new notes pay the same 7.875 percent annual yield and will mature in February 2016, just like the originals, but will allow the noteholders to sell them to other investors just like any other registered bond in the credit markets.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc.

Inverness extends bond exchange deadline

May 26, 2010 By MassDevice staff Leave a Comment

IMA logo

Inverness Medical Innovations Inc. (NYSE:IMA) is giving a handful of stragglers a little extra time to cash in their unregistered bonds.

The Waltham, Mass.-based diagnosis, monitoring and health management firm is extending until June 4 the tender period for note-holders to turn in Inverness bonds maturing in February 2016. The tender period had been set to expire at 5 p.m May 24, with about 98 percent of the note-holders making that deadline.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc.

Inverness to re-brand as Alere

May 18, 2010 By MassDevice staff Leave a Comment

IMA logo

Inverness Medical Innovations Inc. (NYSE:IMA) is giving one of its subsidiaries a big promotion.

The Waltham, Mass.-based diagnostics firm is planning a makeover by changing its name to Alere, a brand it created in 2008 after acquiring Alere Medical, ParadigmHealth and Matria Healthcare and merging them under a single umbrella.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc.

Q1 profits soar for Inverness

April 28, 2010 By MassDevice staff Leave a Comment

IMA logo

First-quarter profits soared on a healthy boost to revenues for Inverness Medical Innovations Inc. (NYSE:IMA) during the three months ended March 31.

The Waltham, Mass.-based diagnostics and lab equipment maker posted net income of $9.0 million, or 10 cents per diluted share, on revenues of $515.3 million during the quarter. That’s a more than 1,064 percent increase in profits compared with the $771,000, or 1 cent per diluted share, Inverness reported during Q1 2009. Revenues were up 21.2 percent compare with $425.2 million during the year-ago quarter

Filed Under: Business/Financial News, Diagnostics, MassDevice Earnings Roundup, News Well Tagged With: 2010, Alere, Inverness Medical Innovations Inc.

Inverness in spat with Chinese distributor

April 27, 2010 By MassDevice staff Leave a Comment

IMA, Chinmax logos

Inverness Medical Innovations Inc. (NYSE:IMA) and a Chinese medical products distributor, Chinmax Medical Products Inc., are embroiled in a dispute over the rights to sell Inverness subsidiary Biosite’s Triage line of diagnostic products in the People’s Republic.

Shanghai-based Chinmax claims to hold the exclusive right to distribute the Triage brand in China and filed suit in March against Inverness Medical Beijing Co. Ltd. and another distributor, Shanghai Tongwei Medical Device Co. Ltd., accusing them of infringing that right, according to a press release.

Filed Under: Business/Financial News, Diagnostics, Legal News, News Well Tagged With: Alere, Chinmax Medical Products Inc., Inverness Medical Innovations Inc., Shanghai Tongwei Medical Device Co. Ltd.

Inverness, BG Medicine ink development pact for heart failure test

April 26, 2010 By MassDevice staff Leave a Comment

IMA, BG logos

BG Medicine Inc. and Inverness Medical Innovations Inc. (NYSE:IMA) inked a deal to develop and commercialize a galectin-3 test for heart failure.

The Waltham, Mass.-based companies said Inverness will develop the test for its Triage Meter Pro testing platform in collaboration with BG, which will support the effort and its regulatory filings, according to a press release.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, BG Medicine Inc., Cardiac Markers, Inverness Medical Innovations Inc.

Inverness takes Standard Diagnostics stake to 75 percent

March 23, 2010 By MassDevice staff Leave a Comment

IMA logo

Inverness Medical Innovations Inc. (NYSE:IMA) closed a $36.4 million follow-on offer for more shares of Standard Diagnostics (KDQ:066930), taking its total stake in the Korean diagnostics firm to about 75 percent.

The Waltham, Mass.-based diagnostics and lab equipment maker has spent about $202.7 million acquiring its share of SD, which posted adjusted revenues of about $58.4 million and pre-tax income of roughly $24.4 million last year, according to a regulatory filing.

Filed Under: Business/Financial News, Diagnostics, Mergers & Acquisitions, News Well Tagged With: Alere, Inverness Medical Innovations Inc., Standard Diagnostics

Inverness seeks to up stake in Standard Diagnostics

February 23, 2010 By MassDevice staff Leave a Comment

Inverness Medical Innovations Inc. (NYSE:IMA) launched another tender offer for Standard Diagnostics (KDQ:066930), looking to add to the 61.9 percent stake it already holds in the Korean firm.

Earlier this month the Waltham, Mass.-based diagnostics and lab equipment maker closed its second tender offer for Standard Diagnostics shares, which saw it bid about $35.72 per share for 75.79 percent or just more than 6 million shares of the company.

Filed Under: Business/Financial News, Diagnostics, Mergers & Acquisitions, News Well Tagged With: Alere, Inverness Medical Innovations Inc., Standard Diagnostics

Top suit to leave Inverness’s health management unit

February 19, 2010 By MassDevice staff Leave a Comment

Dr. Ron Geraty, CEO at Alere LLC — the health management unit of Inverness Medical Innovations Inc. (NYSE:IMA) — will soon be leaving the company, two years after Alere was acquired by Inverness.

Geraty is expected to step down April 21, although the exact date could be changed by mutual agreement, the company said in a Feb. 19 regulatory filing. No successor was immediately named and Inverness did not disclose why Geraty, 62, was leaving the company.

Filed Under: Business/Financial News, Diagnostics, News Well Tagged With: Alere, Inverness Medical Innovations Inc., Personnel Moves

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