Dynamic Healthcare M&A Database

Acquiring Party	Inverness Medical Innovations, Inc. (AMEX: IMA), a provider of diagnostic products for women’s health and chronic disease self-management.
Transferring Party	The lateral flow immunoassay diagnostic products ACON Laboratories, Inc., a provider of diagnostic test kits for the consumer, point-of-care and laboratory markets.
Sector	Diagnostics
Date	February 24, 2006
Analysis The deal settles Inverness' patent infringement claims against ACON and fortifies Inverness' position in pregnancy and fertility testing consumer markets. The business to be acquired had 2005 revenues and operating income of approximately $50m (3.5x) and $17m (10.3x), respectively. Deal price of $175m (including a manufacturing plant in China providing low cost production and distribution).
The Walden Group is a leading healthcare investment banking firm specializing in mergers, acquisitions and strategic transactions. It also invests its own funds and, together with its expert operational partners, provides value-added services to help special companies reach critical milestones. This information is copyright © 2004-2007 The Walden Group, Inc. This information is provided as a service to the public but remains the intellectual property of The Walden Group, Inc and may not be reproduced in any manner without the written permission of The Walden Group, Inc. The information contained in the transactions table was derived from publicly available and other sources. Transaction analysis and other information are based, in part, upon public comments, Walden Group research and judgments, and reporting and research of others. The information is not intended to be relied upon as pronouncements by the transaction participants or for any other reason.

Dynamic Healthcare M&A Database - 1Q06