Life Sciences, deals, Diagnostics

Inverness to Raise $200M in Notes Sale

Ryan McBride 5/4/09

Inverness Medical Innovations (NYSE:IMA), a Waltham, MA-based provider of medical diagnostics and health management services, says that it plans to raise $200 million through a public offering of senior subordinated notes due in 2016. The proceeds of the debt offering will be used for general corporate purposes, according to Inverness. The company filed documents with the SEC on April 10 to disclose that it may complete offerings to raise funds, and the firm says that the $200 million notes sale will be done under that SEC filing.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.