WALTHAM, Mass., March 19 -- Inverness Medical Innovations, Inc. (Amex: IMA), a leading provider of women's health and nutritional products and developer of advanced medical devices, and IVC Industries, Inc. (OTC Bulletin Board: IVCO.OB) jointly announced that Inverness has today completed its acquisition of IVC. The transaction provides IMA with additional production and distribution resources. Under the previously announced agreement, as amended in January 2002, shareholders of IVC are receiving $2.50 in cash for each share of IVC common stock.
For more information about Inverness Medical Innovations, please visit our website at http://www.invernessmedical.com.
Inverness Medical Innovations manufactures, markets and sells products for the women's health market, and is engaged in the business of developing, acquiring, manufacturing, and marketing advanced medical devices. The Company is presently exploring new opportunities for its proprietary electrochemical and other technologies in a variety of consumer oriented applications including immuno-diagnostics with a focus on women's health and cardiology.
The Company's women's health and nutritional products are distributed to consumers through established retail distribution networks such as Wal-Mart, Walgreens and CVS. Inverness is led by the team that took the former Inverness Medical Technology, recently acquired by Johnson & Johnson, to a leadership position in the field of blood glucose monitoring and diabetes self-management, and is headquartered in Waltham, Massachusetts.