Attached files
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8-K - FORM 8-K - ALERE INC. | b83727e8vk.htm |
Exhibit 99.1
Contact:
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Doug Guarino | Director of Corporate Relations | 781-647-3900 | |||
Jon Russell | Vice President of Finance |
ALERE INC. ANNOUNCES STOCK REPURCHASE AUTHORIZATION
WALTHAM, MA...December 9, 2010...Alere Inc. (NYSE: ALR), 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 its Board of Directors has authorized the initial repurchase of up to $50
million worth of its common or preferred stock. Aleres senior secured credit agreement, as amended, permit aggregate
stock repurchases of up to $200 million and financial covenants under the indentures governing
Aleres outstanding senior and senior subordinated notes would currently allow aggregate stock
repurchases of up to approximately $140 million.
Shares would be repurchased in the open market, or in privately negotiated transactions, at times
and in amounts considered appropriate based on factors including price and market conditions.
Additionally, the Board of Directors authorized that purchases can be
made pursuant to a plan adopted under Rule 10b5-1 of the
Securities Exchange Act of 1934. A Rule 10b5-1 plan allows Alere to repurchase its shares during
periods when the company would normally not be active in the market due to its own internal trading
blackout periods. Any purchases made under Rule 10b5-1 would be made according to a predefined plan that is
established when Alere is not in possession of material non-public information.
There is no guarantee as to the exact number of shares that will be repurchased under the plan or that
there will be any repurchases under the plan.
For more information about Alere, please visit our website at http://www.alere.com.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere
enables individuals to take charge of improving their health and quality of life at home. Aleres
global leading products and services, as well as its new product development efforts, focus on
infectious disease, cardiology, oncology, drugs of abuse and womens health. Alere is
headquartered in Waltham, Massachusetts.
Source: Alere Inc.