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No Surprise: LifeScan is Probably Buying Inverness

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.

Johnson & Johnson has finally done what everyone thought it should do and wondered why it hadn't done earlier—made an offer to buy Inverness Medical Technology Inc. [See Deal] Inverness already supplies J&J's LifeScan Inc. subsidiary with an electrochemical detection blood glucose meter and strip that is key to its comeback play in diabetes monitoring. For much of the parties' six-year relationship, Inverness has been primping, hoping for a moment like this. LifeScan hasn't committed until now, even though it has become increasingly reliant on Inverness.

But LifeScan is at a crossroads. Early this year it launched One Touch Ultra, a new meter made by Inverness...

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