MORRISON & FOERSTER REPRESENTS ACON LABORATORIES IN $175 MILLION ACQUISITION BY INVERNESS MEDICAL INNOVATIONS
A patent litigation dispute between two medical diagnostic companies that had
been fought in the U.S. and Europe for almost three years has reached a surprise
ending this week: a win-win for both parties. Inverness Medical Innovations,
Inc. has agreed to acquire the rapid diagnostics business from ACON Laboratories,
Inc. for $175 million. The deal ends a patent infringement case brought by Waltham,
MA-based Inverness in 2004 over some of ACON's core rapid test diagnostic technology.
Morrison & Foerster