Business

Alere agrees to buy eScreen

Alere Inc., a Waltham-based company that provides health management services, said today that it has agreed to buy eScreen Inc., a technology firm that specializes in toxicology screening and employee health products and services.

The purchase price is $270 million and potential additional payments of up to $70 million, Alere said.

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Kansas-based eScreen had 2011 revenues of about $120 million, Alere said in a press release. Among the services it offers are urine drug screens.

In a statement, Alere chief executive Ron Zwanziger said: “With the acquisition of eScreen, we not only further our capabilities in the global toxicology market, but also strongly position Alere to deliver a wide-range of diagnostics to US and multi-national employers. The eScreen platform is foundational in our approach, as employers are increasingly shouldering the burden for the care of their workforce and are more directly dictating their health testing needs.”

Alere was formerly known as Inverness Medical Innovations Inc. Since 2007, the company has made more than a dozen acquisitions.

Chris Reidy can be reached at reidy@globe.com.
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