May 17, 2007 / 10:12 PM / 11 years ago

Inverness Medical and Procter & Gamble form consumer diagnostics joint venture - SPD Swiss Precision Diagnostics GmbH

IMA and The Procter & Gamble (PG) announced that they have completed their previously announced deal to form a 50/50 joint venture for the development, manufacturing, marketing and sale of existing and to-be-developed consumer diagnostic products, outside the cardiology, diabetes and oral care fields. At the closing IMA contributed its related consumer diagnostic assets, other than its manufacturing and core intellectual property assets, to the joint venture, and P&G acquired its interest in the joint venture for a cash payment of ~$325 mln US.

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