Alere under shareholder fire

Medical device and care management company Alere has come under fire from ‘activist investor’ Coppersmith Capital Management, which owns 7 percent of the company’s shares. Most recently in our pages for their acquisition and restaging of MedApps, now Alere Connect [TTA 4 Jan], Alere’s recent acquisition streak has added to revenues in its diagnostic unit and to about 9.1 percent growth in the past quarter, but not to profits. Struggling units such as Diagnostics and Health Information Solutions have helped to spiral debt. Coppersmith wishes to place three directors on the board at the shareholder meeting 7 August to stop the car crash of shareholder value and sell off assets. Management believes that it is carefully investing for the future of the company. Next week will tell. Alere’s losses triple as investor fight awaits (FierceMedicalDevices)

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