WALTHAM, Mass. Inverness Medical Innovations on Tuesday announced the sale of its vitamin and nutritional supplements business to International Vitamin Corp. for an approximate $63.4 million.
The sale includes Inverness Medical Nutritionals and IVC Industries and constitutes Inverness' entire vitamin and nutritional supplements business segment. Inverness sold the assets of the business, which include manufacturing facilities N.J.
Through the first nine months of 2009, the business generated net revenues of $63.6 million and contributed an operating loss of $2.4 million.
As a result of the sale, Inverness' vitamin and nutritional supplements business segment will be presented as a discontinued operation in its financial statements for the fiscal year ended Dec. 31, 2009.