Alere Acquires Privately-Held Arriva Medical for $65M

WALTHAM, Mass.-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 millioncash, 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.

Read the release on the PR Newswire website here.