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8-K - FORM 8-K - ALERE INC. | b80988e8vk.htm |
Exhibit 99.1
Inverness Medical Innovations to Change Name to Alere
WALTHAM, Mass., May 18, 2010 Inverness Medical Innovations, Inc. (NYSE: IMA), a global
leader in enabling individuals to take charge of their health at home through the merger of rapid
diagnostics and health management, announced today that it will seek shareholder approval to change
its name to Alere Inc. at its July 14 annual meeting. The company intends to file a preliminary
proxy statement with the Securities and Exchange Commission today including a proposal to change
its name, as well as other proposals, and expects to file a definitive proxy statement on or about
June 4, 2010.
Through our acquisitions and internal initiatives, we have grown our business based on our
goal of becoming the word-leader in enabling individuals to take charge of their health at home,
said Ron Zwanziger, CEO of Inverness Medical Innovations, Inc. Our unique strategy of merging
innovative diagnostics with differentiated health management services will enable us to provide
comprehensive support for health care professionals and patients across the globe. In order to best
leverage the strength of our combined offerings with our customers, investors and employees, we
have decided that an alignment of our core brands and customer facing companies is required to
maximize our visibility and growth potential. By creating a globally recognizable brand, we will
reinforce our vision and strategy to bring health care closer to the home. We have already begun
the process of unifying our brands under the Alere name and believe that changing our corporate
name to Alere will further support the understanding and acceptance of this newly adopted brand.
The name Alere, which is derived from Latin and means to nurture, to care for or to support, was
selected based on extensive research with investors, customers and industry experts both in the US
and abroad, continued Mr. Zwanziger. We currently utilize the Alere brand for our health
management services offerings and, therefore, the name already benefits from recognition within the
healthcare community by providers and patients alike. The new name is appropriate for a company
that sees its foremost task as the continuous improvement of patient care.
After the name Alere is formally adopted, the company plans to change its New York Stock Exchange
ticker symbol from IMA to ALR. The timing of the ticker symbol change will be announced at a
later date.
By developing new capabilities in near-patient diagnosis, monitoring and health management,
Inverness Medical Innovations enables individuals to take charge of improving their health and
quality of life. A global leader in rapid point-of-care diagnostics, Inverness products, as well
as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of
abuse and womens health. Inverness is headquartered in Waltham, Massachusetts.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the federal
securities laws, including statements regarding the expected benefits of the companys name change
and rebranding efforts. These statements reflect Inverness current views with respect to future
events and are based on managements current assumptions and information currently available.
Actual results may differ materially due to numerous factors including, without limitation, market
acceptance of the new name, brand and logo; the ability of the company to effectively and
efficiently transition existing products and services to the new brand, including obtaining
regulatory approvals necessary and controlling costs; the ability of the company to maintains its
rights and interest in the name, brand and logo; and the risks and uncertainties described in the
companys Annual Report on Form 10-K, as amended, for the year ended December 31, 2009, and other
factors identified from time to time in their respective periodic filings with the Securities and
Exchange Commission (the SEC). The company undertakes no obligation to update any forward-looking
statements contained herein.
Additional Information and Where to Find It
The name change proposal discussed above will be submitted to the Companys shareholders for their
approval at the Companys 2010 annual meeting. In connection with its proposed solicitation of
proxies for the annual meeting, the Company will file with the SEC a proxy statement which, among
other things, will describe the proposal. Shareholders of the Company are urged to read the proxy
statement and any other relevant documents filed with the SEC when they become available, because
they will contain important information about the Company and the proposal. Shareholders may
obtain a free copy of the proxy statement and other relevant documents (when available) that the
Company files with the SEC at the SECs Web site at www.sec.gov. In addition, those documents will
be available free of charge in the investors section of the Companys Web site at www.invmed.com.
The Company and its directors and executive officers may be deemed to be participants in the
solicitation of proxies under SEC rules in respect of the foregoing proposal. Shareholders may
obtain information regarding the Companys directors and executive officers in the Companys Annual
Report on Form 10-K for the fiscal year ended December 31, 2009, as amended. Shareholders may
obtain free copies of this document from the sources listed above. Additional information regarding
the interests of the participants in the solicitation, if any, will be included in the proxy
statement relating to the proposal.