Alere Said to Seek $200 Million Loan for eScreen Acquisition
Alere Inc. (ALR), a provider of health management services, will hold a lender meeting tomorrow to discuss a $200 million term loan the company is seeking to support its acquisition of eScreen Inc., according to a person with knowledge of the transaction.
Jefferies Group Inc. is arranging the financing for the Waltham, Massachusetts-based company, said the person, who declined to be identified because the terms are private.
Alere has agreed to acquire the Overland Park, Kansas-based provider of employee-related health testing products and services for $270 million in cash, according to a Feb. 28 statement.
David Teitel, chief financial officer of Alere, didn’t immediately respond to an e-mail seeking comment.
In a revolving credit facility, money can be borrowed again once it’s repaid; in a term loan it can’t.
To contact the reporter on this story: Michael Amato in New York at Mamato3@bloomberg.net
To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net
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