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Inverness still hopes to spin off health management
Disease Management News, August 4, 2008
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Inverness Medical Innovations, Inc., said last week it remains committed to spinning off its health management business into a potential joint venture with several private equity sponsors, but complications with bank financing might delay the transaction.
Waltham, MA–based Inverness, which reported 2008 second-quarter adjusted earnings on July 29 that missed market estimates because of a charge associated with an arbitration decision, is looking at a “slightly alternative structure” for the joint venture, CEO and president Ron Zwanziger said in a conference call to discuss the earnings report.
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