Inverness Medical Innovations, Inc. to Acquire Free & Clear, Inc. for $100 Million and up to $30 Million in Future Contingent Payments

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WALTHAM, Mass., Sept. 21 /PRNewswire-FirstCall/ -- Inverness Medical Innovations, Inc., a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, announced today that it has agreed to acquire Free & Clear, Inc. Headquartered in Seattle, Washington, Free & Clear specializes in evidence-based programs which address the four key modifiable health risks that contribute to chronic disease: tobacco use, poor nutrition, physical inactivity and stress. Free & Clear, which recognized $47.1 million in 2008 revenues, will be acquired by Inverness' Alere health management business through a merger transaction for $100 million cash and up to $30 million in future contingent payments based on 2010 revenues. The acquisition is subject to customary closing conditions but is expected to close on or about September 28, 2009.

By developing new capabilities in near-patient diagnosis, monitoring and health management, Inverness Medical Innovations enables individuals to take charge of improving their health and quality of life. A global leader in rapid point-of-care diagnostics, Inverness' products, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Inverness is headquartered in Waltham, Massachusetts.

Cautionary Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the federal securities laws, including statements regarding the expected time for closing of the acquisition. These statements reflect the parties' current views with respect to future events and are based on their respective management's current assumptions and information currently available. Actual results may differ materially due to numerous factors including, without limitation, risks associated with market and economic conditions, Inverness' ability to consummate the acquisition, Inverness' ability to integrate this and other acquisitions and to recognize expected synergies; Inverness' ability to continue to successfully develop, market and provide health management programs and services which improve healthcare and reduce healthcare costs for its customers and individuals, and the risks and uncertainties described in Inverness' annual report on Form 10-K, as amended, for the year ended December 31, 2008, and other factors identified from time to time in their respective periodic filings with the Securities and Exchange Commission. Inverness undertakes no obligation to update any forward-looking statements contained herein.

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