Abbott agreed to acquire Alere for $56/share, ~$5.8B equity value, to become global leader in point-of-care diagnostics. Alere had $2.5B annual sales in infectious disease, molecular, cardiometabolic, and toxicology testing. Combined diagnostics business projected >$7B in sales. Deal later renegotiated to $51/share (~$5.3B); closed October 2017 after litigation.