Inverness unloads nutritionals
This article was originally published in The Tan Sheet
Executive SummaryThe maker of consumer diagnostic devices sells its legacy nutritionals business for $63.4 million in cash to International Vitamin Corporation, Inverness Medical Innovations announces Jan. 19. Inverness Medical Nutritionals generated net revenues of $63.6 million and an operating loss of $2.4 million in the first nine months of 2009, the Waltham, Mass., company said. The unit's supplement products include Stresstabs vitamins, Posture-D calcium supplements and Ferro-Sequels iron supplements. Inverness moved into smoking-cessation and other therapeutic services with its $100 million acquisition of Free & Clear Inc. (1"The Tan Sheet" Nov. 2, 2009)
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