Abbott said it is completing its acquisition of Alere after receiving all necessary clearances.
Abbott said in a release that the acquisition will result in Abbott having approximately $7 billion in diagnostics sales and point of care testing worldwide.
"Creating the world's leading point-of-care business will help Abbott meet the growing demand for fast, accurate and actionable information," Brian Blaser, executive vice president of diagnostics products for Abbott, said in the release. "Combined with Abbott's existing point of care business and its leading hand-held platform, i-STAT, we now have the broadest point-of-care testing portfolio to help improve care for patients in more parts of the world."
Point of care testing helps health care systems in making patient-care decisions, the release said.