Posts Tagged: "Alere Inc."

Abbott Laboratories (NYSE:ABT) of Chicago, IL, is poised to surge ahead in the global point-of-care medical diagnostics industry by acquiring Alere Inc. (NYSE:ALR) of Waltham, MA, in a $5.8 billion deal which values Alere at $56 per share. According a recent statement made by Abbott CEO Miles White to investors, the move will push the company’s annual diagnostic sales up to $7 billion. The acquisition is simply the latest major move in the medical device industry, a sector which saw more than 1,000 deals pending or completed last year for a net worth of $58.9 billion, according to statistics published by Bloomberg Business.