Not so long ago Abbott Laboratories CEO Miles White reportedly promised to make life “a living hell” for embattled medical technology firm Alere. He was angry Alere was forcing Abbott to go through with its acquisition of the Massachusetts-based company, and lawsuits were flying between the two businesses.
But times have changed.
Abbott now owns Alere, albeit for a lower price than it originally agreed to pay, and the lawsuits have been dropped. Still, for its $5.3 billion Abbott acquires a company with a lot of baggage.
Alere just entered a $13 million settlement with the Securities and Exchange Commission and also is dealing with other lingering regulatory issues. That...