Acquisition steps up company’s presence in disease-management field.
Inverness Medical Innovations signed a definitive agreement to acquire ParadigmHealth, a provider and integrator of care and disease management services for acutely ill and clinically complex patients.
“The acquisition of ParadigmHealth is a significant step in our strategy to become a leader in disease and health management services. When combined with our prior acquisitions of QAS and Alere, ParadigmHealth will contribute to our goal of enabling individuals to manage their health effectively,” states Ron Zwanziger, CEO of Inverness.
The transaction is structured as an all cash deal with a purchase price of approximately $230 million. The company reports that it is operating profitably, and the past 12 months revenues were approximately $60 million.