WALTHAM, Mass., Aug. 5, 2013 /PRNewswire/ -- Alere Inc. (NYSE: ALR) (the "Company" or "Alere") today reminded stockholders to vote " FOR" the Company's four highly qualified and independent director nominees – Hakan Bjorklund, Stephen MacMillan, Brian Markison and Sir Thomas McKillop – on the WHITE proxy card at Alere's 2013 Annual Meeting of Stockholders, to be held on Wednesday, August 7, 2013.
Alere Board nominees are committed to enhancing value for all stockholders.
All of Alere's Board nominees are new directors and all nominees are committed to taking a hard, objective look at Alere's strategy for the benefit of all Alere stockholders.
All of Alere's Board nominees are both highly qualified and highly independent. Each has substantial CEO experience leading and building successful healthcare companies and serving as public-company Board members.Hakan Bjorklund – Former CEO of Nycomed
- Delivered revenue and EBITDA growth of over 800% and 900%, respectively
- Led the 2011 sale of Nycomed to Takeda Pharmaceuticals for $13.8 billion, delivering a very substantial return for Private Equity investors
- Delivered revenue and EBITDA growth of approximately 130% and 150%, respectively
- Delivered stock price appreciation of over 62%, compared to appreciation of the S&P 500 index of approximately 40%
- Delivered revenue and EBITDA growth of 36% and 42%, respectively
- Delivered stock price appreciation of over 37%, compared to appreciation of the S&P 500 index of approximately 20%
- Delivered revenue and EBITDA growth of over 58% and 130%, respectively
- Delivered stock price appreciation of approximately 16%, compared to appreciation of the S&P 500 index of approximately 6%
- Adjusted earnings per diluted share that exceeded Wall Street consensus estimate by 33%
- Strength demonstrated in all of Alere's business units – including significant organic revenue growth in Professional Diagnostics
- Achieving a strong reduction in adjusted operating expense margin year-over-year
- Alere's stock price is now at a two-year high
- Alere's stock price has increased 14% since the second quarter earnings announcement three days ago
- Alere's stock price has increased 78% since the announcement of our new strategy on November 8, 2012
- Alere is the top performing stock in the diagnostic sector in 2013 and since the announcement of our new strategy
- "Management's three-point strategic plan continues to gain momentum, as witnessed by the recovery in organic growth in 2Q and significant operating expense margin improvement, with growth set to accelerate even further heading into 2014 and 2015 as de-leveraging kicks-in, the Triage recovery is in full swing and some of the COO initiatives drive further efficiencies. Additionally, the reduced leverage target to 3.0x (from 4.0x) by 2015 shows management's commitment to improve the balance sheet and expect this focus to benefit the equity holders" ( Raymond James, July 31, 2013 )
- "We reiterate our BUY rating and raise our price target…, as ALR posted its third consecutive top-line beat and beat by 16 cents on the bottom. ALR displayed strong results from infectious disease, diabetes and toxicology as its execution story continues to make progress" ( Canaccord, July 31, 2013 )
- "We like that ALR is focusing more on operational efficiencies and balance sheet improvements and laying out tangible mileposts for investors. Recent initiatives such as moving support functions to lower-cost regions and sharing expenses are beginning to bear fruit" ( Macquarie, July 31, 2013 )
- "We are clearly encouraged by the Q2 results, particularly the demonstrated cost controls and suggestions of near-term divestitures (and related deleveraging). We believe management is committed to its agenda to improve the company's operational execution, reduce the cost structure, and deleverage the balance sheet." ( Wunderlich Securities, August 1, 2013 )
- Expecting higher single digit organic growth by 2015 in Professional Diagnostics;
- Expecting continuing reductions in adjusted SG&A as a percentage of revenue through the end of 2015;
- Significantly reducing the Company's original target leverage ratio, achieving a 3x debt-to-EBITDA ratio by the end of 2015, and doing so without compromising its core businesses; and
- Pursuing additional non-core divestitures, which are expected to yield at least $600 million in cash proceeds without affecting the Company's growth prospects.