Alere completes sale of BBI business to Exponent Private Equity

From Alere Inc.Nov 19 2015

Alere Inc. (NYSE: ALR), a global leader in rapid diagnostics announced today the completion of the previously announced sale of its BBI business to Exponent Private Equity LLP, a UK-based private equity firm. BBI Group provides products and services for the diagnostic, healthcare, research, defense and food industries globally.

The total purchase price was $115 million, based on foreign exchange rates as of Nov, 17, 2015. Alere is eligible to receive up to an additional $47 million in contingent consideration.

Alere intends to use all of the proceeds to pay down existing indebtedness.

Source:

Alere Inc.

Posted in: Business / Finance

Tags: Cardiometabolic, Diagnostic, Diagnostics, Food, Healthcare, Research, Toxicology

Comments (0)

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

APA
Alere Inc.. (2019, June 20). Alere completes sale of BBI business to Exponent Private Equity. News-Medical. Retrieved on August 08, 2022 from https://www.news-medical.net/news/20151119/Alere-completes-sale-of-BBI-business-to-Exponent-Private-Equity.aspx.
MLA
Alere Inc.. "Alere completes sale of BBI business to Exponent Private Equity". News-Medical. 08 August 2022. <https://www.news-medical.net/news/20151119/Alere-completes-sale-of-BBI-business-to-Exponent-Private-Equity.aspx>.
Chicago
Alere Inc.. "Alere completes sale of BBI business to Exponent Private Equity". News-Medical. https://www.news-medical.net/news/20151119/Alere-completes-sale-of-BBI-business-to-Exponent-Private-Equity.aspx. (accessed August 08, 2022).
Harvard
Alere Inc.. 2019. Alere completes sale of BBI business to Exponent Private Equity. News-Medical, viewed 08 August 2022, https://www.news-medical.net/news/20151119/Alere-completes-sale-of-BBI-business-to-Exponent-Private-Equity.aspx.