Inverness Medical acquires Matria Healthcare for $143.9 million plus stock

By Lisa Kerner

Charlotte, N.C., May 9 - Inverness Medical Innovations, Inc. acquired Matria Healthcare, Inc. for a final purchase price of approximately $143.9 million and 1.8 million shares of Inverness series B convertible perpetual preferred stock.

In addition, Inverness assumed existing options to purchase Matria stock, which were converted into options to purchase some 1.5 million shares of Inverness common stock, according to an Inverness news release.

As previously reported, Matria shareholders approved the merger at a special meeting on Thursday.

In January, Inverness announced it would acquire Matria in a deal that gives Matria shareholders $39.00 per share, payable as $6.50 in cash plus $32.50 in convertible preferreds of Inverness. The preferreds are convertible at $69.32, a prior news release stated.

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

Matria provides health enhancement, disease management and high-risk pregnancy management programs and services. The company is located in Marietta, Ga.

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