Inverness Medical Agrees to Acquire Ischemia Technologies

Diagnostics manufacturer Inverness Medical Innovations has signed a deal to purchase devicemaker Ischemia Technologies for approximately $22.4 million in stock.

The companies said the transaction is subject to adjustments for certain allocated expenses and liabilities. Inverness has agreed to register for resale the shares issued to Ischemia's shareholders after the acquisition has been completed.

Using patented intellectual property rights, Ischemia has developed, and manufactures and markets the only FDA-cleared in vitro diagnostic test specifically targeted on cardiac ischemia, known as Ischemia Modified Albumin (IMA). With IMA, when used in conjunction with established electrocardiogram and troponin tests, emergency physicians can quickly rule out from three to five times more patients whose chest pain symptoms derive from non-cardiac conditions.