Alere Completes Epocal Purchase
On Wednesday, home health facilitator Alereannounced that it has completed its purchase of blood gas and electrolyte tester Epocal, a deal first announced in 2009, but one that was made contingent upon Epocal hitting certain gross margin and other financial targets prior to October 31, 2014.
Epocal has since hit these targets, triggering Alere's obligation to purchase for $166 million in cash. Alere may be required to pay up to $75.5 million in additional payments in the future based on a clause linking additional payments to "the delivery of additional product offerings on the Epocal platform."
Alere shares closed down slightly yesterday in response to the news, but are on the rise today, up 1%, at $22.02.
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