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
TheStreet Open House

Alere To Acquire EScreen, Inc.

Stock quotes in this article: ALR

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.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,042.90 -28.32 -0.17%
S&P 500 1,972.29 -5.51 -0.28%
NASDAQ 4,493.39 -12.4620 -0.28%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs