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Inverness Medical Innovations Inc., a developer and marketer of consumer-focused health technologies, is taking its branding in a more nurturing direction.
The Waltham company said it plans to file paperwork with the U.S. Securities and Exchange Commission to formally change its name to Alere Inc. The measure will be voted on by shareholders at Inverness’ annual meeting in July. The company’s ticker symbol also is subject to change on the New York Stock Exchange from its current “IMA” to “ALR.”
Company CEO Ron Zwanziger said the move is intended to bring clarity to Inverness’ slew of acquisitions and new product launches. He said the name Alere is derived from Latin and means “to nurture, to care for or to support.” He said the name was selected after an extensive search with investors, customers and industry experts.
“In order to best leverage the strength of our combined offerings with our customers, investors and employees, we have decided that an alignment of our core brands and customer facing companies is required to maximize our visibility and growth potential,” Zwanziger said in prepared remarks. “By creating a globally recognizable brand, we will reinforce our vision and strategy to bring health care closer to the home. We have already begun the process of unifying our brands under the Alere name and believe that changing our corporate name to Alere will further support the understanding and acceptance of this newly adopted brand.”
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