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Inverness Medical nets $128.7mm through debt placement

Executive Summary

Inverness Medical Innovations (cardiovascular, infectious disease, and women's health diagnostics and therapeutics) has netted $128.7mm through the private placement of ten-year 3% convertible senior subordinated notes to qualified institutional investors. The notes convert into $52.30 per shares (IMI's shares are currently averaging $39.95). IMI is currently in a bidding war with Beckman Coulter for Biosite.
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
  • Medical Devices
  • Pharmaceuticals
    • Nutraceuticals
    • OTC, Consumer
  • In Vitro Diagnostics
    • Chemistry, Immunoassay
    • Glucose Testing
    • Urine-based Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Convertible Debt
    • Private Placement

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