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news.Inverness Medical has entered into a definitive agreement to acquire ParadigmHealth, provider and integrator of care and disease management services for acutely ill and clinically complex patients.
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The transaction is structured as an all-cash deal, with a purchase price of approximately $230 million. Closing is conditioned on clearance under the Hart-Scott Rodino Act, approval by ParadigmHealth’s stockholders and other customary closing conditions.
Inverness was represented by Goodwin, Procter and advised by Covington Associates while ParadigmHealth was represented by Orrick, Herrington and advised by UBS Securities.
John Penrose, CEO of ParadigmHealth, said: “Our focus on the high acuity complex patient and our decision support technology will be a perfect complement to the products and services of Inverness and its new subsidiary Alere.”