This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Alere To Acquire EScreen, Inc.

WALTHAM, Mass., Feb. 28, 2012 /PRNewswire/ -- Alere, Inc. (NYSE: ALR), a global leader in enabling individuals to take charge of their health through the merger of rapid diagnostics and health management, announced today that it has entered into a binding agreement to purchase eScreen, Inc., a leading technology firm that specializes in toxicology screening and employee health products and services.

The base purchase price is $270 million cash subject to a customary working capital adjustment and follow-on contingent consideration of up to an additional $70 million. The acquisition is expected to close within the next 45 days, but remains subject to customary closing conditions.

Headquartered in Overland Park, KS, with operations in Phoenix, AZ and sales and service offices in Richmond, VA and Calgary, Canada, eScreen deploys a class-leading automated platform and FDA-cleared reader for the collection, provision, management and reporting of regulated and non-regulated urine drug screens.  The company also offers a growing portfolio of employee-related health testing products and services, and had revenues of approximately $120 million in 2011.

Commenting on the agreement, Ron Zwanziger, CEO of Alere said, "With the acquisition of eScreen, we not only further our capabilities in the global toxicology market, but also strongly position Alere to deliver a wide-range of diagnostics to U.S. and multi-national employers.  The eScreen platform is foundational in our approach, as employers are increasingly shouldering the burden for the care of their workforce and are more directly dictating their health testing needs."

In a related statement, Dr. Murray Lappe, Founder and Chairman of the Board of eScreen, said, "We believe that this combination will greatly enhance our ability to realize our founding vision of improving the delivery, efficiency and effectiveness of employee health. Both companies share a history of success in diagnostics and toxicology, and together we are poised for growth through our plans to deploy new products on the eScreen platform."

About Alere By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on cardiology, women's health, infectious disease, oncology and toxicology. Alere is headquartered in Waltham, Massachusetts.  For more information regarding Alere please visit www.alere.com.

SOURCE Alere Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs