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Alere buys diabetes supply company for $65M

Wed, 11/23/2011 - 11:45am
The Associated Press

Medical diagnostics company Alere Inc. said Wednesday it will bought diabetes testing supply company Arriva Medical for $65 million.

Arriva provides diabetes testing supplies to people in their own homes. The company is based in Coral Springs, Fla., and Alere said it had about $21.5 million in revenue over the six months ended Oct. 31.

Alere stock fell 88 cents, or 3.8 percent, to $22.15 on Wednesday.

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