Inverness Medical Innovations Acquires ParadigmHealth
WALTHAM, Mass., Dec. 21 - Inverness Medical Innovations, Inc. (AMEX:IMA) today announced that it has completed its previously announced acquisition of ParadigmHealth, Inc. ParadigmHealth, headquartered in New Jersey, is a leading provider of innovative, consumer- centric decision support technologies and expert coaching to facilitate better health choices for acutely ill and clinically complex patients, including neonatal intensive care and oncology patients.
The transaction was structured as an all cash deal, with a purchase price of approximately $230 million. The company is operating profitably and the past twelve months revenues were approximately $58.5 million.
Inverness was represented by Goodwin, Procter and advised by Covington Associates, LLC; ParadigmHealth was represented by Orrick, Herrington and advised by UBS Securities LLC.
About Inverness
By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness' products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts.
For additional information on Inverness Medical Innovations please visit our website at www.invernessmedical.com.
Source: Inverness Medical Innovations
CONTACT: Investor Relations: Doug Guarino, Director of Corporate Relations of Inverness Medical Innovations, +1-781-647-3900
Web site: www.invernessmedical.com/
