Inverness
This article was originally published in The Tan Sheet
Executive Summary
Separation of its women's health, nutritional supplement and clinical diagnostic businesses to create new publicly traded company owned by Inverness shareholders announced by Waltham, Mass.-based firm May 23. J&J will acquire Inverness' diabetes care business in a stock-for-stock exchange valued at roughly $1.3 bil. New firm likely will be led by current management team and will retain $40 mil. in cash following spin-off. Transaction awaits Inverness shareholder approval and is expected to close in fourth quarter. Inverness products include Smart Care vitamin and mineral supplement brand sold online and in Wal-Mart, CVS, Walgreens
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