Inverness says it will continue current pace of acquiring companies

By Jennifer Lanning Drey

Portland, Ore., Dec. 12 - Inverness Medical Innovations, Inc. plans to continue, and possibly accelerate, its current pace for making acquisitions, Ron Zwanziger, the company's chief executive officer, said during a panel discussion at the RBC Capital Markets Healthcare Conference held Wednesday in New York.

On average, Inverness currently makes slightly more than one acquisition per month.

"Acquisitions for us are a central part of our business," Zwanziger said.

Inverness' aggressive focus on acquisitions is driven by the company's desire to have its own distribution around the world, he added.

At the same time, the company has a disciplined approach toward making acquisitions and an aggressive process for implementing them, Zwanziger said.

The company's acquisition criteria require that all acquisitions have visible value beyond five years, have revenue growth that is above industry standards within about one year of being acquired and be cash accretive to earnings per share within 90 days.

"Those are the criteria. We apply them religiously," he said.

Inverness is a Waltham, Mass., diagnostic device company.

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