IMI To Buy Concateno For 170M Euros

Inverness Medical Innovations (IMI), the US medical diagnostics products maker, agreed to acquire Concateno, the UK drug testing services provider, for 170 million Euros. The transaction will complement Inverness' US drug testing operations and will expand the companies' presence worldwide. IMI is being advised by IDJ, while Concateno is being by UBS Investment Bank and Collins Stewart.