Alere highlights progress in third quarter of 2010

Alere has published its financial results for the third quarter of 2010, underlining a number of positive trends that are expected to underpin its future growth.

The life sciences firm generated net revenues of $538.7 million (330.7 million pounds), up from $512.7 million in Q3 2009, with recent professional diagnostics acquisitions accounting for $56 million of this total.

During the accompanying conference call, Alere chairman and chief executive officer Ron Zwanziger noted the growth of its health management business, as well as the progress made with the European rollout of the Alere Heart Check handheld device.

He also highlighted the firm's introduction of new proprietary health management offerings, including biomarker-based home tests and biometric measuring devices.

"We have had a goal of becoming the world leader in enabling individuals to take charge of their health under medical supervision at home … it is clear that our approach is working," added Mr Zwanziger.

The company, formerly known as Inverness Medical Solutions, has been operating under its new branding since July 2010.