CLONDIAG Chip Technologies GmbH Acquisition

3/1/2006

M&A

$18,000,000

Inverness Medical Innovations, Inc. (Amex: IMA) has signed an agreement to acquire CLONDIAG chip technologies GmbH (CLONDIAG) Under the terms of the agreement, Inverness acquires 67.45% of the stock of CLONDIAG for 218,502 shares and approximately $3.1 million in cash and agrees to settle obligations totaling approximately $10 million during the first quarter of 2006, primarily using cash. Under the agreement Inverness will acquire the remaining 32.55% of the stock of CLONDIAG on or about August 1, 2006 for an additional $4.9 million based on current exchange rates. The purchase agreement also calls for contingent consideration totaling approximately $8.9 million consisting of 224,316 shares of common stock and approximately $3 million of cash or stock in the event that 4 specified products are developed on CLONDIAG's platform technology. Inverness has agreed to register for resale the shares issued to CLONDIAG's former shareholders and employees after the acquisition has been complete

Acquired or Merged

Medical Devices & Instruments

Loebstedter Str 103-105
Jena, D-07749
Germany

Not Recorded

CLONDIAG chip technologies GmbH develops and manufactures novel integrated analysis systems enabling the setup of a new generation of fast and affordable multiplex assays in nucleic acid and serological diagnostics.