Inverness Medical Innovations acquires Bio-Stat Healthcare Group
9 October 2007
Inverness Medical Innovations (AMEX:IMA) has taken over
UK company Bio-Stat Healthcare Group, a distributor of both core laboratory
and point of care diagnostic testing products, for approximately $33.4m plus
a results-related payment. Bio-Stat had revenues of approximately $29.5m in
2006 and has been operating profitably.
Commenting on the transaction, Ron Zwanziger CEO of Inverness said, "We are
very pleased to add Bio-Stat to the family of Inverness companies. This
acquisition significantly enhances our presence in the UK market."
David Horne, Managing Director of Bio-Stat says, "We at Bio-Stat are very
excited about the acquisition. Our inclusion in the Inverness group will
give us access to an even more impressive range of products and we will be
able to offer improved services as well as continue to build on our
reputation for outstanding customer satisfaction".
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