Coppersmith Capital Management, LLC (“Coppersmith Capital”) today announced that it has filed a comprehensive presentation detailing its strategic plan to improve performance and enhance stockholder value at Alere, Inc. (NYSE: ALR) (“Alere”). The presentation is available at the SEC’s website and at the following link:
The presentation outlines Alere’s languishing long-term operational performance, destructive capital allocation decisions, flawed strategy, and poor corporate governance. The presentation also sets forth in detail Coppersmith Capital’s recommendations and timetable for the operational and strategic rationalization of Alere, including significant deleveraging, which, if successfully implemented, Coppersmith Capital believes could generate dramatic value enhancement at Alere.
Jerome Lande, Managing Partner of Coppersmith Capital, stated, “Over the years, Alere has blindly pushed forward with flawed strategies that have destroyed stockholder value in almost every respect. Now Alere is asking stockholders to have faith and support its director nominees who have already stated their commitment to the status quo. We believe real change on the board is necessary to bring about a robust, independent evaluation of alternatives that can truly address Alere’s structural and financial issues. Coppersmith Capital has put forward a comprehensive strategic plan that has the potential to reverse years of lackluster performance and mismanagement by generating far greater value in the near-term and placing Alere on the right track for creating enduring value for the long-term. Our nominees, if elected, are committed to working constructively with the other directors on the board to fully explore and evaluate all viable strategies to unlock stockholder value. In our view, the necessary catalyst is the election of directors who are truly independent of management. Therefore we urge stockholders to support our highly-qualified nominees and vote the blue proxy card today.”
Coppersmith Capital urges Alere’s stockholders to vote the BLUE proxy card for the election of Coppersmith’s three highly-qualified and independent candidates to Alere’s Board of Directors at its upcoming annual meeting of stockholders on Wednesday, August 7, 2013.