Alere Inc is in talks to sell its health management business as the healthcare diagnostics and services company seeks to streamline operations after years of unprofitable acquisitions, according to people familiar with the matter. Discussions about a potential divestiture are in late stages and a deal could come as soon as in the next several weeks, some of these people said, asking not to be named because the matter is not public.The health or disease management unit, now grouped under what it calls the Health Information Solutions segment, is comprised mostly of Matria Healthcare, which Alere bought for $900 million in 2008 in a deal criticized for expanding the company into disparate areas.The unit provides programs and services for managing diseases and high-risk pregnancies, with a focus on women's and children's health, and posted roughly $200 million in first-half revenue.A deal would come at a time when Alere faces an unsolicited approach from its former chief executive Ron Zwanziger, who said last month he wanted to take the $3.2 billion company private.
Alere Inc. is a provider of point-of-care diagnostics and services. Shares of ALR traded higher by 0.9% or $0.35/share to $39.05. In the past year, the shares have traded as low as $30.16 and as high as $43.00. On average, 735628 shares of ALR exchange hands on a given day and today's volume is recorded at 482436.
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