Alere repurchases series B convertible preferreds for $31.4 million

By Toni Weeks

San Diego, March 1 - Alere Inc. said that after Dec. 31 it repurchased 118,000 shares of its series B preferred stock, which were convertible into roughly 681,000 shares of common stock, at a cost of $31.4 million in cash.

Following the repurchases, the company has $18.6 million remaining of the initial $50 million repurchase program authorized by the board of directors in December, according to a 10-K filed Tuesday with the Securities and Exchange Commission.

Alere is a Waltham, Mass.-based medical products and services company.

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