Foley Hoag Represents Alere on $270M-Plus Deal to Acquire eScreen
March 7, 2012
Foley Hoag LLP represented Alere Inc. as it entered into a binding agreement to purchase eScreen Inc., a technology firm that specializes in toxicology screening and employee health products and services.
Alere, a diagnostics and health management company based in Waltham, Mass., agreed to purchase eScreen for a base price of $270 million, with potential for contingent consideration of up to an additional $70 million. The deal is subject to customary closing conditions.
Kansas-based eScreen deploys an automated platform and FDA-cleared reader for the collection, provision, management and reporting of regulated and non-regulated urine drug screens. The company has operations in Phoenix and sales and service offices in Richmond, Va., and Calgary, Canada.
Alere’s global products and services, as well as its new product development efforts, focus on cardiology, women’s health, infectious disease, oncology and toxicology.
Foley Hoag partner Mark Haddad, deputy chair of the firm’s Business Department, led the legal team that represented Alere. He was joined by associates Mary Beth Noonan Heath, Prithvi Tanwar, Erica Rice and Mike Nelson.
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