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Article: MedPointe Announces Sale of Wampole Laboratories; Inverness Medical Innovations to Purchase Diagnostics Business.
- Article from:
- Business Wire
- Article date:
- August 8, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors/Health & Medical Writers
SOMERSET, N.J.--(BUSINESS WIRE)--Aug. 8, 2002
MedPointe Inc. announced today it has entered into a binding, definitive agreement with Inverness Medical Innovations, Inc., Waltham, Mass., for Inverness to acquire the assets of MedPointe's medical diagnostics division, Wampole Laboratories.
The $70 million cash transaction, which has been approved by the boards of directors of both companies, is expected to close in September.
Under the terms of the agreement, Inverness will purchase Wampole and all of the assets required to operate its business. It is expected that Inverness will retain the ...