Alere Inc. (Waltham, MA, USA) has acquired Epocal, Inc., (Ottawa, Canada) a provider of technologies that support blood gas and electrolyte testing at the point of care (POC).
In 2009, the two companies entered into an agreement for Alere to acquire all of Epocal’s issued and outstanding equity securities, contingent upon the achievement of gross margin and other financial milestones on or before October 31, 2014. The company did not disclose what those specific milestones were.
By developing new capabilities in near-patient diagnosis, monitoring, and health information solutions, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on cardiology, infectious disease, toxicology, and diabetes.
Commenting on the acquisition, Alere CEO, Ron Zwanziger, stated, “Through its unique combination of novel diagnostic parameters and wireless-enabled technology, Epocal has set new standards in helping healthcare practitioners in critical settings deliver better patient outcomes, all the while establishing clinical efficiencies. These achievements are core to Alere’s broader mission of empowering individuals and their physicians with data that drive more responsive decision making and improved health outcomes, and we welcome Epocal into the Alere family.”