Abbott, Alere Amend Terms of Merger Agreement

The transaction is expected to close by the end of the third quarter of 2017.

Abbott (NYSE: ABT) (No. 14 on the DiversityInc Top 50 Companies list) and Alere Inc. (NYSE: ALR) announced today that the companies have agreed to amend the existing terms of their agreement for Abbott's acquisition of Alere.


Under the amended terms, Abbott will pay $51 per common share to acquire Alere, for a new expected equity value of approximately $5.3 billion, reduced from the originally expected equity value of approximately $5.8 billion.

The transaction is expected to close by the end of the third quarter of 2017, subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.

Under the amended terms, the date by which necessary regulatory approvals must be received has been extended to Sept. 30, 2017, from April 30, 2017. Additionally, the companies have agreed to dismiss their respective lawsuits.

On Feb. 1, 2016, Abbott and Alere announced a definitive agreement for Abbott to acquire Alere, the global leader in point of care diagnostics, which will significantly expand Abbott's global diagnostics presence and leadership.

Point of care testing is a $5.5 billion segment and one of the fastest growing in vitro diagnostics segments, in part because many health care systems are increasing their reliance on these technologies to inform patient care decisions because of their ease of use, speed and accuracy.

Abbott: Connected Devices Turn Data Into Better Health

Abbott's Robert Ford Joins a Panel Discussing the Potential for Connected Medical Devices to Improve Patient Care and Drive Better Outcomes.

Originally Published by Abbott.

Today's medical devices are creating terabytes of information that gives patients, doctors and health providers real-time insight into someone's vital statistics, heart health and even bloodwork.

But can all this new information really make someone healthier?

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Abbott Introduces the Afinion™ 2 Analyzer Rapid Test System for Diabetes Management

State-of-the-art multi-assay test system helps people with diabetes get the HbA1c results they need within three minutes — allowing more time for consultation and care during a single healthcare visit.

Originally Published by Abbott.

Abbott announced the launch of its Afinion™ 2 analyzer in the U.S., the newest generation of the Afinion test system. The Afinion 2 builds on Abbott's heritage in diabetes care by empowering patients with information about their health that they can discuss with their providers during a single visit.

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Abbott's Xience Sierra Heart Stent Receives National Reimbursement in Japan to Treat People with Coronary Artery Disease

Coronary artery disease is the most common form of heart disease, which is the second leading cause of death in Japan.

Originally Published by Abbott.

Abbott announced that Japan's Ministry of Health Labour and Welfare (MHLW) granted national reimbursement for XIENCE Sierra™, the newest generation of the company's gold-standard XIENCE everolimus-eluting coronary stent. XIENCE Sierra improves upon previous versions of XIENCE with an enhanced stent design, a new delivery system, and unique sizes to help doctors treat challenging cases.

XIENCE Sierra was designed to help doctors more easily treat people with difficult-to-treat blockages that involve multiple or totally blocked arteries or complications such as diabetes. Complex cases are increasingly prevalent as people with coronary artery disease are living longer.

"Extensive clinical data and 10 years of real-world experience with the XIENCE family of stents provide doctors with confidence that they are treating their patients with one of the safest stents available," said Chuck Brynelsen, senior vice president of Abbott's vascular business. "National reimbursement of XIENCE Sierra will provide people in Japan with greater access to this life-changing technology that can help them live their best lives."

Coronary artery disease is the most common form of heart disease, which is the second leading cause of death in Japan. National reimbursement in Japan will enable doctors to treat more patients with XIENCE Sierra through the country's health insurance plans. XIENCE Sierra was approved in Japan on April 4, 2018, received CE Mark in Europe late last year, and is under review with the U.S. Food and Drug Administration.

XIENCE has been studied in over 100 clinical trials and in 10 years of global real-world experience. Its safety profile is unprecedented with consistent low rates of stent thrombosis, even in complex cases. More than eight million people worldwide have received a XIENCE stent since its initial regulatory approval.