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www.fdanews.com/articles/172193-alere-to-sell-bbi-acquires-us-diagnostics

Alere to Sell BBI, Acquires US Diagnostics

July 17, 2015

Alere has signed agreements to sell its BBI Group division to Exponent Private Equity LLP, a UK-based firm, and acquired Huntsville, Ala., devicemaker US Diagnostics in transactions valued at $164 million and $60 million, respectively.

BBI markets products for the diagnostic, healthcare, research, defense and food industries while US Diagnostics manufactures drug testing devices and distributes Waltham, Mass.-based Alere’s toxicology products.

With the BBI divestiture and US Diagnostics acquisition, the company’s core business and balance sheet are strengthened, Alere CEO and President Namal Nawana said Thursday.

The BBI sale is subject to regulatory approval. — Jason Scott