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Alere Acquires Arriva Medical
Arriva specializes in providing home delivery of diabetes testing supplies
WALTHAM, Mass., Nov. 23, 2011 /PRNewswire/ -- Alere Inc. (NYSE: ALR), a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, announced today that it has acquired Arriva Medical, a leading provider of diabetes testing supplies to individuals in their homes. To acquire Arriva, Alere paid approximately $65 million cash, subject to working capital and other closing adjustments, plus 806,452 restricted shares of Alere common stock. Based in Coral Springs, Florida, Arriva had revenues of approximately $21.5 million for the six months ended October 31, 2011.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, toxicology and women's health. Alere is headquartered in Waltham, Massachusetts.
SOURCE Alere Inc.
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