Inverness Medical Innovations
This article was originally published in The Gray Sheet
Executive Summary
Diagnostics firm acquires home drugs-of-abuse testing firm First Check Diagnostics for $25 million, plus potential additional payments based on near-term sales growth. Privately held First Check generated 2006 revenue of $11 million and is profitable, Inverness says. Inverness had tabbed a portion of its proceeds from a secondary stock offering for "potential acquisitions" (1"The Gray Sheet" Feb. 5, 2007, p. 17)...