Published:
Inverness Medical Innovations Completes Acquisition of Matria Healthcare, Inc.
Inverness Medical Innovations Completes Acquisition of Matria Healthcare, Inc.
WALTHAM, Mass., May 9 /PRNewswire-FirstCall/ -- Inverness Medical
Innovations (Amex: IMA) today announced that its previously announced
acquisition of Matria Healthcare, Inc. was successfully completed and
effective prior to the opening of business today, May 9, 2008. Matria,
headquartered inMarietta, Georgia, provides comprehensive, integrated health
management services particularly in the areas of women's and children's
health, cardiology and oncology. The final purchase price consisted of
approximately $143.9 million, and approximately 1.8 million shares of
Inverness Series B Convertible Perpetual Preferred Stock (Amex: IMA.PR.B). In
addition, existing options to purchase Matria stock have been assumed by
Inverness and have converted into options to purchase approximately 1.5
million shares of Inverness common stock.
As a result of the merger, Matria's common stock will no longer trade on
The NASDAQ Global Select Market. Pursuant to the merger, each outstanding
share of Matria common stock, not owned by Matria or its affiliates and not
subject to appraisal rights, has been automatically converted into the right
to receive (i) $6.50 in cash, without interest, and (ii) a portion of a share
of Series B Preferred Stock of Inverness. Inverness expects that the shares
of Series B Preferred Stock will begin trading on the American Stock Exchange
LLC as of the opening of the market today, May 9, 2008. The listing approval
of the American Stock Exchange LLC for the shares of Series B Preferred Stock
is contingent upon Inverness being in compliance with all applicable listing
standards on the date it begins trading on the Exchange, and may be rescinded
if Inverness is not in compliance with such standards.
About Inverness
By developing new capabilities in near-patient diagnosis, monitoring and
health management, Inverness Medical Innovations enables individuals to take
charge of improving their health and quality of life. A global leader in
rapid point-of-care diagnostics, Inverness' products, as well as its new
product development efforts, focus on infectious disease, cardiology,
oncology, drugs of abuse and women's health. Inverness is headquartered in
Waltham, Massachusetts. For additional information on Inverness Medical
Innovations, please visit http://www.invernessmedical.com.
SOURCE Inverness Medical Innovations
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Tags: Pharmaceuticals, Biotechnology, Healthcare, Banking and Finance, Health, , massachusetts, georgia
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