Alere Inc. was a global manufacturer of rapid point-of-care diagnostic tests. The company was founded in 1991 and was headquartered in Waltham, Massachusetts. As of January 2017, the company had a market capitalization of $3.47 billion with an enterprise value of $5.9 billion. The company was formerly known as Inverness Medical Innovations, Inc. and changed its name to Alere Inc. in 2010.
The company was founded in 1991 by Ron Zwanziger under the name SelfCare, which went public in 1996. The company changed its name from SelfCare to Inverness Medical Technology in 2000. One year later, it sold its diabetes business to Johnson & Johnson, and split off a new company called Inverness Medical Innovations. That company subsequently expanded its business by acquiring many companies, including Unipath, Clondiag, Ionian Technologies, TwistDx, Wampole Laboratories, Ostex International, Binax, Biosite, HemoSense, Cholestech, Redwood Toxicology, Concateno, BBI Holdings, eScreen, Standard Diagnostics, and hhh Axis-Shield.
In 2007, Alere entered into a joint venture, named Swiss Precision Diagnostics, with Procter & Gamble for the sales and marketing of its consumer diagnostics products.
In 2009, Alere won two awards in the 16th Annual National Health Information program, which recognizes the U.S.’s best consumer health information programs and materials.
In 2010, the company changed its name to Alere and began trading under the ticker ALR in NYSE.