ABBOTT LABORATORIES acquired Alere Inc. for $51 per share, approximately $5.3 billion at close (originally announced at $56 per share / ~$5.8 billion equity value), a transaction completed in October 2017, structured as all cash.
Alere Inc. operates in Diagnostics — point of care testing, is based in Waltham, Massachusetts, USA. Alere is a global leader in point-of-care diagnostics, providing rapid tests across infectious disease, cardiometabolic and toxicology testing close to the patient.
Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing, with total diagnostics sales expected to exceed $7 billion after the close.
Leadership in the ~$5.5 billion point-of-care testing market, significantly expanding Abbott's global diagnostics presence. Integrated into Abbott's Diagnostics business
We want to offer our customers the best and broadest diagnostics solutions. Alere helps us do that.Miles D. White, Chairman and CEO, Abbott
Our leading platforms and global presence in point-of-care diagnostics, combined with Abbott's broad portfolio of market-leading products, position the combined company for strong growth.Namal Nawana, President and CEO, Alere
Advisory firms were not disclosed for this transaction.