Inverness Medical Innovations has acquired ParadigmHealth

Covington Associates LLC announced today it has acted as advisor to Inverness Medical Innovations (AMEX: IMA) in its agreement to acquire ParadigmHealth ("Paradigm"), a leading provider and integrator of care and disease management services for acutely ill and clinically complex patients, including neonatal intensive care and oncology patients. The transaction is structured as an all cash deal, with a purchase price of approximately $230 million. This is the 8th transaction that Covington Associates has advised Inverness on in 2007, representing over $4 billion in transaction value.