No Surprise: LifeScan is Probably Buying Inverness
Executive Summary
LifeScan is negotiating to buy Inverness Medical Technology, its long-time contract manufacturer, which makes electrochemical-based glucose meters and strips. LifeScan recently introduced a new glucose meter designed and made by Inverness; response to the product has been good and LifeScan wants more control of its partner, especially its manufacturing operations. LifeScan sees the Inverness technology as a key to its strategy for regaining its number one position in the lucrative glucose testing market. Inverness, for its part, has been primping itself to be bought by LifeScan for years. The parties are in final negotiations.