(Source: Datamonitor)
Inverness Medical Innovations, a developer, manufacturer and marketer of consumer and professional medical diagnostic products, has completed its previously announced acquisition of Free & Clear for approximately $100 million in cash, net of cash acquired, and up to $30 million in future contingent payments based on 2010 revenues and EBITDA margin.
Free & Clear, which was acquired by Inverness's Alere health management business, provides web-based learning and phone-based cognitive behavioral coaching to help employers, health plans and state governments improve the overall health and productivity of their covered populations.
Free & Clear's evidence-based programs address four modifiable health risks that contribute to chronic disease: tobacco use, poor nutrition, physical inactivity and stress.
Ron Geraty, CEO of Alere, said: "We expect Free & Clear to benefit from new initiatives to promote disease prevention and wellness that are being put forward by private enterprises as well as federal and state government agencies, such as the increased funding for tobacco cessation and obesity prevention programs that is a component of certain of the healthcare reform proposals currently under discussion in the US Congress."
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