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Inverness gains OTC diagnostics via $25mm First Check buy

Executive Summary

Diagnostics company Inverness Medical Innovations has taken on a new set of consumer tests for drugs of abuse after buying First Check Diagnostics for $25mm in cash. IMI will also pay an earn-out equal to the increase of the acquired products' sales in FY2007 through the first three quarters of 2008 over sales during FY2006 plus the first three quarters of 2007.
Deal Industry
  • In Vitro Diagnostics
    • Urine-based Testing
Deal Status
  • Final
Deal Type
  • Acquisition
    • Payment Includes Cash
    • Full Acquisition
    • Includes Earnout

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