January 28, 2008 - Inverness Medical Innovations will acquire Matria Healthcare, Inc. for approximately $1.18 billion, consisting of approximately $900 million to acquire the Matria shares of common stock and assumption of approximately $280 million of Matria's indebtedness outstanding, which will further Inverness' approach of bringing its proprietary diagnostic products into the home.
Inverness will buy all outstanding shares of common stock of stock for $39.00 per share, payable $6.50 in cash plus $32.50 in convertible preferred stock of Inverness (convertible at $69.32, a premium of 30% over the prior five day closing average price of Inverness shares) or, at the election of Inverness, in cash. The convertible preferred stock, as more fully described in a summary filed on a Form 8-K this morning, will be issued in a tax-deferred transaction and provides for a three percent dividend.
Matria, headquartered in Marietta, Georgia, is a national provider of health enhancement, disease management and high-risk pregnancy management programs and services. Through its Health Enhancement and Women's and Children's Health divisions, Matria provides services to more than 1,000 employers and managed care organizations. Inverness intends to consolidate Matria with the recently acquired Alere and Paradigm businesses to form a combined organization that focuses on the large and rapidly growing health management market opportunity.
Additionally, Matria's oncology services are the market leader in value-added services for oncology and fit with our Paradigm acquisition and with Paradigm's complex case management capability in oncology and neonatal intensive care, said a company spokesperon. Matria is expected to provide Inverness with health and disease management market leading positions in women's health, oncology and cardiology, three critical areas of strategic focus for Inverness."
The merger is conditioned upon approval by Matria’s shareholders as well as the satisfaction of regulatory and other customary conditions and is expected to close during the second quarter of 2008.
For more information: www.invernessmedical.com
June 27, 2022 
