A Foley Hoag LLP legal team is serving as lead counsel to Waltham-based medical diagnostics company Alere Inc. (NYSE: ALR) on the pending $600 million sale of its Alere Health division to healthcare company Optum, the firm announced today.
Foley Hoag represented Alere in the structuring and negotiation of the definitive agreements for the transaction and related matters. Covington Associates is serving as financial advisor. The closing is subject to regulatory approvals and other customary closing conditions.
The Foley Hoag team consists of lawyers from several of the firm’s practices, including mergers and acquisitions; taxation; and licensing and strategic alliances. The team was led by partner Mark A. Haddad, deputy chair of the firm’s business department, and business department associate Alex Khalarian. They were assisted by Managing Partner William R. Kolb; partners Matthew S. Eckert, Hemmie Chang, Nicola Lemay, Earl W. Mellott and John D. Hancock; and associates Von Bryant, Karen Tepichin, Jonathan S. Romiti, Brendan Burke, Sara Mattern, James J. Schneider and Abigail Wolf.
Alere Health’s health management services provide condition management, case management, wellbeing, wellness and women’s and children’s health services to more than 22 million people across 200 regional and local health plans, 89 Fortune 500 companies and 29 states. The sale enables Alere Inc. to focus on its core rapid diagnostics business and improve its balance sheet by paying down debt.
Source: www.foleyhoag.com
