It's always a pleasure to see one of your prior clients prosper. Matria Healthcare was one of my portfolio clients when I was Portfolio Manager within the healthcare lending industry. They were always a pleasure to work with and I wish them the best.
David J. Lacasse, Managing Director - djlacasse@gmail.com
Inverness Medical Innovations Inc. said it will acquire Matria Healthcare Inc. in a cash-and-stock deal valued at $900 million that officials hope builds on the U.S. company's core focus -- women's health, oncology and cardiology.
Matria, based in Marietta, Ga,, provides programs for managing diseases and high-risk pregnancies. Through its health-enhancement and women's and children's health divisions, Matria provides services to more than 1,000 employers and managed-care organizations. The deal values each share of Matria at $39 -- $6.50 in cash and $32.50 in Inverness preferred stock -- a 27% premium to Friday's closing price. Inverness will also assume $280 million in Matria debt.
Inverness, based in Waltham, Mass., intends to consolidate Matria with the recently acquired Alere and Paradigm businesses to form a unit that focuses on the large and rapidly growing health management market.
http://online.wsj.com/article/SB120152316911121953.html?mod=yahoo_hs&ru=yahoo
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