Waiting period ends for Inverness acquisition of HemoSense

By Devika Patel

Knoxville, Tenn., Oct. 2 - Inverness Medical Innovations, Inc. announced that the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 for its proposed acquisition of HemoSense has expired.

"We are delighted to be able to move forward expeditiously with closing this deal pending approval by HemoSense's shareholders," CEO and president Ron Zwanziger said in a press release.

"HemoSense is a particularly good fit with Biosite, Cholestech and QAS, which we have recently acquired. As health care moves closer to personal responsibility, Inverness is and will remain at the forefront with the materials and methods that allow individuals to take better control of their health."

"We are excited about the prospect of combining our capabilities with Inverness' demonstrated commitment to the field of cardiology, and we expect to make a significant impact together," HemoSense CEO Jim Merselis said of the acquisition.

The acquisition is structured as an all stock deal. Each HemoSense shareholder will receive 0.274192 Inverness common shares.

Inverness is a diagnostic device developer based in Waltham, Mass.

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