Find out more. Alere, which was founded in 2001, said it delivered more than 1.4 billion tests last year, producing annual sales of $2.5 billion half of that from the United States. These forward-looking statements are based on information, plans and estimates at the date of this report. With the Afinion System, there's no need to send test results to the lab or spend time tracking them down. The Illinois-based Abbott will acquire Alere for an amount less than the initially agreed upon $5.8 billion. Unless otherwise specified, all product and service names appearing in this Internet site are trademarks owned by or licensed to Abbott, its subsidiaries or affiliates. This is Abbott Laboratories' 1st transaction in the Healthcare Services sector. Customer & Technical Support at Abbott Laboratories Abbott Laboratories agreed to acquire diagnostic-test company Alere Inc. for $5.8 billion, a deal Abbott expects will make it a leading provider of point-of-care testing. Support. Thomas C. Freyman, Abbotts executive vice president of finance and administration, said in the call that the process for acquiring Alere was competitive. It was the fair premium and the strategic fit that allowed Abbott to prevail, he said. Links which take you out of Abbott worldwide websites are not under the control of Abbott, and Abbott is not responsible for the contents of any such site or any further links from such site. Abbott now competes in nearly every area of cardiovascular health and holds the No. "The combination of Alere and Abbott will create the world's premier point of care testing business and significantly strengthen and grow Abbott's diagnostics presence," Miles D. White, Abbott's chairman [] Point of care testing helps improve outcomes and increase the speed of care by bringing the test results to the physician and patient's side in a matter of minutes. We want to offer our customers the best and broadest diagnostics solutions, Miles D. White, chairman and chief executive of Abbott, said in the statement. Abbott to Acquire Alere, Becoming Leader in Point of Care Testing and Significantly Advancing Global Diagnostics Presence - Abbott gains leadership in the $5.5 billion point of care segment, broadens diagnostics footprint and enhances access to fast-growing diagnostics channels Alere, which had a market value of $3.2 billion as of Friday, makes point of care medical tests that can provide results in a matter of minutes. Finally the much contentious merger of Abbott Laboratories ABT with Alere is nearing its close. Abbott announced a plan to acquire Alere in Feburary but has since tried to . If you are not already setup with access or need more information about testing with a paperless and consistent electronic custody and control . ABBOTT PARK, Ill., Dec. 7, 2016 /PRNewswire/ -- Abbott (NYSE: ABT ) has filed a complaint to terminate its proposed acquisition of Alere based on the substantial loss in Alere's value. Evercore is acting as financial advisor and Kirkland & Ellis LLP is serving as legal counsel to Abbott. Abbott is a global health care company devoted to improving life through the development of products and technologies that span the breadth of health care. Abbott Laboratories, Abbott Park, Ill, has entered into a definitive agreement to acquire Alere Inc, Waltham, Mass. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott serves people in more than 150 countries and employs approximately 74,000 people. Problems Delayed Merger Alere's complementary portfolio of products will provide Abbott access to new channels and geographies, including entry into fast-growing outlets, such as doctor's offices, clinics, pharmacies and at-home testing. Abbott's global scale, infrastructure and capabilities. Upon completion of the transaction, the combined business will offer the broadest point of care menu of infectious disease, molecular, cardiometabolic and toxicology testing, expanding Abbott's platforms to include benchtop and rapid strip tests. Amended Terms. Abbott is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Abbott. Kirkland & Ellis is providing legal counsel to Abbott, and Cravath, Swaine & Moore is serving Alere. Investors and security holders are able to obtain the documents (once available) free of charge at the SEC's website at www.sec.gov, or free of charge from Alere at http://www.alere.com/en/home/investor-relations/sec-filings-and-financials.html or by directing a request to Juliet Cunningham, Vice President, Alere Investor Relations at 858-805-2232 or ir@alere.com. Per the amended terms of the agreement, Abbott has agreed to pay $51 per common share to acquire Alere, a reduction from earlier deal of $56 per common share in cash upon the . Please be aware that the website you have requested is intended for the residents of a particular country or countries, as noted on that site. Abbott to Acquire Alere, a Maker of Medical Diagnostics Tests, https://www.nytimes.com/2016/02/02/business/dealbook/abbott-to-acquire-alere-a-maker-of-medical-tests.html. * The combination is anticipated to result in annual pre-tax synergies approaching $500 million by 2019 and increasing thereafter, including both sales and operational benefits. "We want to offer our customers the best and broadest diagnostics solutions. Abbott's life-changing technology helps people live fully and offers information, medicines and breakthroughs to help you manage your health. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing. Links which take you out of Abbott worldwide websites are not under the control of Abbott, and Abbott is not responsible for the contents of any such site or any further links from such site. "Today's announcement marks an exciting and transformative milestone for Alere and one that provides an immediate benefit for our stockholders," said Namal Nawana, president and chief executive officer, Alere. As a result, the site may contain information on pharmaceuticals, medical devices and other products or uses of those products that are not approved in other countries or regions. Unless otherwise specified, all product and service names appearing in this Internet site are trademarks owned by or licensed to Abbott, its subsidiaries or affiliates. Abbott said in the SEC filing today that the "aggregate consideration" paid regarding the merger was about $4.6 billion. Afinion 2. The Company's products and services are focused on infectious disease, cardiology, oncology, drugs of abuse and women's health. The luxury manufacturing pole has acquired shoe specialists Lorenza Calzaturificio and Novarese, as well as Officina Ciemmeci. JPMorgan also served as Strykers financial adviser, while Barclays worked with Sage. The combined company is expecting to extract $500 million in savings by 2019 through sales and operational benefits. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing. Alere, which had a market value of. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements, including but not limited to the ability of the parties to consummate the proposed transaction on a timely basis or at all, the ability of the parties to satisfy the conditions precedent to consummation of the proposed transaction at all or in a timely manner, the ability of Abbott to successfully integrate Alere's operations, and the ability of Abbott to implement its plans, forecasts and other expectations with respect to Alere's business after the completion of the transaction and realize expected synergies. A month later, however, the federal Department of Justice subpoenaed documents from Alere regarding sales and distribution practices in foreign marketsincluding Africa, Asia, and Latin America. About Alere Abbott Laboratories Agrees to Acquire Alere at . Boards. The addition of this business aligns with Abbott's long-standing strategy of shaping the company for growth and complements the leadership positions it has built across its other businesses, which include medical devices, nutritionals and established pharmaceuticals. Abbott will be able to provide new, flexible, cost-effective, high-quality products to help health systems meet growing demand in both in-patient and out-patient settings. Itinerary Outline. Under the amended terms, Abbott said it would buy Alere for a new price of about $5.3 billion. Private Securities Litigation Reform Act of 1995 This gave Abbott inventions and expertise in both the areas of cardiovascular and neuromodulation, which made Abbott one of the top major players in almost every area of cardiovascular health. "The combination of Alere and Abbott will create the world's premier point of care testing business and significantly strengthen and grow Abbott's diagnostics presence," said Miles D. White, chairman and chief executive officer, Abbott. Abbott's total diagnostics sales will . Abbott is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement of the linked site by Abbott. Abbott's total diagnostics sales will exceed $7 billion after the close. Abbott. In April 2017, the firms amended the terms of their acquisition agreement and dismissed lawsuits they had filed against each other. ABBOTT PARK, Ill. and WALTHAM, Mass., Feb. 1, 2016 /PRNewswire/ --Abbott (NYSE: ABT) and Alere Inc. (NYSE: ALR) announced today a definitive agreement for Abbott to acquire Alere, significantly advancing Abbott's global diagnostics presence and leadership. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing. PARTNERSHIP COMBINES ABBOTT'S GLOBAL EXPERTISE OF TRACKING AND CHARACTERIZING VIRUSES AND YRGCARE'S KNOWLEDGE OF HIV AND EXTENSIVE RESEARCH NETWORK; INDIA BECOMES THE NEWEST ADDITION TO ABBOTT'S GLOBAL VIRAL SURVEILLANCE EFFORTS I'd like to thank our global workforce of nearly 10,000 employees whose hard work and dedication has enabled Alere to contribute to improved patient outcomes throughout the world.". As a result of the deal, which the company said was accretive, Stryker raised its full-year 2016 adjusted earnings guidance by $0.05 a share to a range of $5.55 to $5.75 a share. Abbott Laboratories declared full-scale war on Alere on Wednesday, filing in Delaware Chancery Court to end its $5.8 billion acquisition of the medical test maker. Contact Us. Quidel will. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing, the company said. Furthermore, the date by which necessary regulatory approvals must be received has been extended from 30 April to 30 September 2017. I'd like to thank our global workforce of nearly 10,000 employees whose hard work and dedication has enabled Alere to contribute to improved patient outcomes throughout the world.". The settlement resolves allegations that . "Combined with Abbott's existing point of care business and its leading hand-held platform, i-STAT, we now have the broadest point of care testing portfolio to help improve care for patients in more parts of the world.". Abbott is a global leader in in vitro diagnostics offering a broad portfolio spanning immunoassay, clinical chemistry, hematology, blood screening, molecular and point of care. Under the terms of the agreement, Abbott will pay $56 per common share at a total expected equity value of $5.8 billion. Each Alere share of common stock was converted into the right to receive $51 in cash. The company released a statement Aug. 8, 2016, that indicates it is still concerned about business practices at Alere. Under the terms of the agreement, Abbott will pay $56 per common share of Alere stock, for a total expected equity value of $5.8 billion. Visit Abbott at www.abbott.com and connect with us on Twitter at @AbbottNews. Under . Amanda Pedersen | Oct 18, 2018 It's hard to believe it's been a full year since Abbott closed its acquisition of Alere, considering what a contentious deal it was and how hard Abbott fought last year to get out of it. The transaction is subject to the approval of Aleres shareholders and satisfaction of customary closing conditions. Abbott's total diagnostics sales will exceed $7 billion after the close. As expected, the financial terms of the deal have. Please be aware that the website you have requested is intended for the residents of a particular country or countries, as noted on that site. Medical testing was not the only health care sector announcing a deal on Monday. After spending a year trying to wriggle out of its deal to acquire Alere, Abbott agreed on new terms for the acquisition in April this year. Abbott Acquires Alere to Gain Leadership in Point-of-care Segment Published Date: February 12, 2016 Abbott Laboratories has reached an agreement to acquire Alere Inc for $5.8 billion. Abbott has agreed to buy Alere for $5.3 billion, down from the $5.8 billion agreed upon when the deal was announced in February 2016. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law. Apply for Field Service Engineer Molecular - Firenze Area (temporary contract) job with Abbott Laboratories in Italy - Tuscany - Florence. The website that you have requested also may not be optimized for your screen size. This is Abbott Laboratories' 21st transaction in the United States. Alere helps us do that.". Visit Abbott atwww.abbott.comand connect with us on Twitter at @AbbottNews. Abbott (ABT) and Alere (ALR) announced a definitive agreement for Abbott to acquire Alere. About Abbott San Diego-based diagnostics maker Quidel has penned a deal to acquire Alere's triage assets as it boosts its position in the point of care (POC) market, as well as its geographic footprint. The Afinion 2 analyzer is a compact, rapid, multi-assay analyzer that provides valuable near patient testing at the point-of-care. As a result, the site may contain information on pharmaceuticals, medical devices and other products or uses of those products that are not approved in other countries or regions. "Abbott to Acquire Alere". The website that you have requested also may not be optimized for your screen size. Financial Cleveland, Ohio. (Reuters) - Abbott Laboratories ABT.N said it would buy Alere Inc ALR.N for $5.8 billion to become a leader in point-of-care testing, a fast-growing market as physicians increasingly adopt. Stockholders of Alere are urged to read all relevant documents filed with the SEC, including Alere's proxy statement when it becomes available, because they will contain important information about the proposed transaction and the parties to the proposed transaction. The second acquisition of 2017 came when Alere Inc. was acquired. Abbott said on Monday that it had agreed to acquire Alere for an expected $5.8 billion to enhance its diagnostics business. The offer represents a premium of more than 50 percent over Aleres closing stock price on Friday, and its shares were up 45 percent in morning trading on Monday. Get all the detailed technical support and service you need - the way you need it. Headquartered in Waltham, Massachusetts, Alere is a global leader in point of care diagnostics. 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