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Avee Laboratories Sale to Alere

Alere Inc. (“Alere”), through its Alere Toxicology Services business unit, acquired 100% of the equity in Avee Laboratories, Inc. (“Avee”).

GHF was engaged to find a buyer for the company to provide liquidity to its shareholders. The company’s principal owner desired to focus his efforts on a recently launched new business venture, making a succession plan for the founders a key part of the transaction.

Avee was a rapidly growing provider of laboratory testing services in the dynamic pain management assurance testing market. Due to the founders’ confidentiality concerns and desire to transition out of the business, GHF ran a highly targeted sale process, approaching only strategic buyers and private equity funds that had an active initiative in the laboratory sector. GHF quickly and efficiently put Avee in front of the right buyers, and successfully completed an all-cash transaction while maintaining strict confidentiality.

Avee’s founders successfully exited the business in an all-cash transaction that permitted them to rapidly transition out of their day-to-day management roles to pursue other opportunities. Avee’s highly efficient lab operations and rapidly growing customer base became the foundation of Alere’s strategy to capture market leadership in the pain management testing sector.

Avee is an emerging leader in the pain management testing market and a terrific entrepreneurial success story. The company’s founders grew the business rapidly through a relentless focus on providing customers with fast and reliable pain management testing services. The Company built a first class toxicology operation that in many ways sets a new standard for operational efficiency and quality. The acquisition provides Alere with a tremendous platform from which to grow the business on a national basis.
Ken Higgins Managing Director, GHF

Avee Laboratories

Clearwater, Florida

Avee is a leading provider of toxicology screening services, primarily for pain management assurance testing. The Company provides a full range of toxicology testing for commonly abused substances including Opioids (Vicodin, OxyContin) and a variety of illicit drugs. Avee’s primary customers include pain management clinics, surgery centers, substance abuse clinics and physicians that regularly prescribe pain medication. Avee was founded in 2008 and is based in Clearwater, Florida.

Alere Inc.

Waltham, Massachusetts

Alere Inc. develops and manufactures patient diagnosis, monitoring and health management products and services for cardiology, infectious diseases, toxicology, diabetes, oncology and women’s health in the United States and internationally. Its Alere Toxicology Services business offers drug testing products and services that are used in a multitude of settings such as hospitals, health clinics and home testing.