Alere completes acquisition of VC-backed Epocal

Waltham, Massachusetts's Alere Inc. completed a performance-based acquisition of Epocal Inc., a developer of technologies that support blood gas and electrolyte testing. Alere, which will pay up to US$241.5 million, entered into the transaction with Epocal in 2009, making the purchase conditional on the company's achievement of gross margin and other financial milestones by October, 2014. The Ottawa, Ontario-based Epocal has been venture-backed since its founding in 2001. The company's investors include Canadian venture capital firms Covington Funds, Genesys Capital Partners and MMV Capital Partners.

CanadaNorth AmericaBriefs