Alere, a Waltham, Mass.-based diagnostics and health management services company, announced it has made an offer to acquire Scottish diagnostics company Axis-Shield for $375 million in cash.
Alere makes bid for Axis-Shield
Alere, which reported $2.1 billion in revenues in 2010, develops point-of-care and laboratory diagnostics.
Axis-Shield is based in Dundee, Scotland, and manufactures instruments and diagnostic tests for physician offices.
"We believe Axis-Shield will be complementary to our existing businesses," Alere President and CEO Ron Zwanziger said in a news release. "Through our strong market presence and global leadership in rapid point-of-care diagnostics, we believe we can help develop and grow the Axis-Shield product portfolio to be a clear leader globally in its core markets."
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.