One more stop on the Inverness Medical Innovations shopping spree. The company has agreed to buy the assets of Matritech, a biotech company focused on point-of-care diagnostic tests, for $36 million. Matritech's leading product, a test that can help diagnose and monitor bladder cancer, will add to Inverness's stable of rapid diagnostics.
This buyout follows rapidly on another acquisition: Just two weeks ago, Inverness announced an all-stock deal to buy Hemosense, another point-of-care diagnostics company. Hemosense sells handheld blood-coagulation systems for monitoring patients taking warfarin [1]. And the Hemosense deal came on the heels of two other acquisitions, of Biosite (a proteomics company whose BNP blood test is used in to detect heart failure, in a $1.7 billion deal) and QAS (a maker of coagulation monitors). In all, the company has now bought or agreed to buy eight companies in just over 18 months.
- here's the release [2]
- and read the Motley Fool article [3] for more
Links:
[1] http://www.fiercebiotech.com/story/warfarin-label-change-spotlights-molecular-diagnostics/2007-08-16?utm_medium=rss&utm_source=rss
[2] http://www.fiercebiotech.com/press-releases/press-release-inverness-medical-innovations-agrees-acquire-matritech
[3] http://www.fool.com/investing/general/2007/08/03/extrinsic-growth-from-inverness.aspx