Inverness Medical Innovations has formed a Joint Venture with Proctor & Gamble

Covington Associates LLC announced today that it acted as the financial advisor to long standing buy-side client Inverness Medical Innovations, Inc. (AMEX: IMA) in its Joint Venture with Procter & Gamble (NYSE:  PG), an international consumer products company. The combined venture is designed to develop, manufacture and market consumer diagnostic products outside the fields of cardiology and diabetes. The joint venture valued at $325 million.