Inverness Medical Innovations Finalizes Acquisition of Panbio Ltd
WALTHAM, Mass., Jan. 7 -- Inverness Medical Innovations (AMEX:IMA) today announced that its previously announced acquisition of Panbio Ltd has been successfully completed. The transaction was finalized with Inverness acquiring all outstanding shares for a total value of approximately $37 million. Panbio, headquartered in Brisbane, Australia, develops and manufactures diagnostic tests for use in the diagnosis and management of a board range of infectious diseases. In particular, Panbio's leadership position in Dengue Fever diagnostics complements Inverness Medical's existing product portfolio for the rapid diagnosis of blood borne pathogens. Panbio also provides the Australian infrastructure required to support Inverness' plans for growth in the region.
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 www.invernessmedical.com.
For additional information on Panbio Ltd., please visit www.panbio.com.
FCMN Contact: leydenberkshire@earthlink.net
Source: Inverness Medical Innovations
CONTACT: Doug Guarino, Director of Corporate Relations, +1-781-647-3900
Web site: www.invernessmedical.com/
