After months of trying to get out of buying the diagnostics company Alere Inc., Abbott Laboratories Inc. has decided to kiss and make up with the Massachusetts-based point-of-care diagnostics manufacturer. Abbott and Alere announced April 14 that they have agreed to an amendment to the original deal, and now expect it to close by the end of September.
Despite Legal Dispute, Abbott Set To Buy Alere for $5.3bn
Soon before it was set to take Alere to court in an attempt to break out of an acquisition deal, Abbott has reversed course and plans to buy the company for half a billion less than the original price tag.
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An interactive look at medtech and diagnostics deals made during March 2025. Data courtesy of Biomedtracker.
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The firms recently announced they will operate as combined company LXE Hearing marketing Eargo’s namesake line and hearX’s Lexie brands. Eargo majority owner Patient Square Capital added $100m to its investment.
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