Inverness Medical plans to rebrand as Alere

Inverness Medical Innovations has announced plans to change the name of the company to Alere.

The science firm is to seek approval from shareholders on the proposed rebranding at its annual meeting on July 14th 2010, while a definitive proxy statement will be filed with the Securities and Exchange Commission on June 4th.

Inverness Medical explained that the new name, which derives from the Latin term meaning to nurture, to care for or to support, has been chosen following research among consumers, investors and experts.

It stated that the objective of the move will be to create a globally recognisable brand name.

Ron Zwanziger, chief executive officer of Inverness Medical Innovations, said: “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.”

Last month, the company published its financial report for the first quarter of 2010, during which it experienced a year-on-year increase in net revenues.