Inverness Medical Innovations and Procter & Gamble to jointly develop
consumer diagnostics products
4 August 2006
Waltham, Mass., Inverness Medical Innovations, Inc.
(AMEX:IMA) and The Procter & Gamble Company (NYSE:PG) have signed a
non-binding letter of intent to form a joint venture to develop and market
consumer diagnostic products.
This collaboration will bring Inverness' expertise in the development and
manufacture of consumer diagnostics together with P&G's expertise in the
marketing and selling of consumer health care products. Inverness will
retain all rights with respect to the development and sale of cardiology
diagnostic products and its non-consumer diagnostic businesses.
detailed planning to reach a final agreement will take several months and
specifics of a potential agreement are not available. Any final agreement
reached will be subject to certain closing conditions and applicable