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news.Inverness Medical Innovations has completed the acquisition of Matria Healthcare, a provider of comprehensive, integrated health management services particularly in the areas of women's and children's health, cardiology and oncology.
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The final purchase price consisted of approximately $143.9 million, and approximately 1.8 million shares of Inverness series B convertible perpetual preferred stock. In addition, existing options to purchase Matria stock have been assumed by Inverness and have converted into options to purchase approximately 1.5 million shares of Inverness common stock.
As a result of the merger, Matria’s common stock will no longer trade on NASDAQ. Pursuant to the merger, each outstanding share of Matria common stock, not owned by Matria or its affiliates and not subject to appraisal rights, has been automatically converted into the right to receive, $6.50 in cash, without interest, and a portion of a share of series B preferred stock of Inverness.