Inverness Plans $100M Offering To Buy Free & Clear

Law360, New York (September 23, 2009, 5:53 PM EDT) -- Diagnostic test maker Inverness Medical Innovations Inc. has announced it intends to offer $100 million in senior notes due in 2016 to fund an acquisition of health education company Free & Clear Inc.

Inverness will offer the notes through a private placement with institutional buyers, it said Tuesday. The company expects to commence the offering immediately.

Waltham, Mass.-based Inverness announced Monday its health management business Alere LLC agreed to acquire Free & Clear for $100 million in cash and up to $30 million in future contingent...
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