Inverness Medical Innovations, Inc. Commences Cash Tender Offer for Biosite Incorporated at $92.50 Per Share

Published: May 29, 2007

WALTHAM, Mass.--(BUSINESS WIRE)--Inverness Medical Innovations, Inc. (AMEX: IMA) announces that its wholly-owned subsidiary, Inca Acquisition, Inc., has commenced its tender offer for all outstanding shares of Biosite Incorporated (NASDAQ: BSTE) at a price of $92.50 per share in cash, without interest, plus, if the first time the shares are accepted for payment (the “Acceptance Time”) shall not have occurred on or prior to July 2, 2007, an additional $0.015205 in cash per share for each day during the period commencing on July 3, 2007, through the Acceptance Time, less any applicable withholding taxes.

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