Alere to Pay No More Than $22 Million for MedApps

Alere to Pay No More Than $22 Million for MedApps   mobile health companies mHealth news mHealth MedApps Alere acquisitions When news of acquisitions and mergers capture the headlines in technology, the dollars and cents behind the deal are always among the first aspects of the news that are comprehensively explored. So when the details aren’t known in full, something feels missing from the story at hand.

But when it comes to the Alere acquisition of MedApps last summer, we may finally be gaining that comprehensive picture we haven’t been able to obtain for six months.

Largely derived from details expressed in Alere’s most recent SEC filings, it looks like the company will pay up to – but no more than – $22 million for MedApps as 2013 unfolds.

MedApps, if you’re unfamiliar, is behind a wide range of remote or at-home health devices commonly used for the monitoring of conditions ranging from diabetes to high blood pressure.

At the same time, if you haven’t heard the name MedApps in a while, don’t think you’re out of the loop. After the acquisition, MedApps was reborn as “Alere Connect.”

“With respect to MedApps,” Alere’s filing reads, “the terms of the acquisition agreement require us to make earn-out payments upon achievement of certain technological and product development milestones through January 15, 2015. The maximum amount of the earn-out payments is $22.0 million.”

To read more about what’s in store for Alere Connect in 2013, check out the company’s official webpage here.

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