Inverness Medical execs repay notes

Inverness Medical Innovations Inc. said today that chief scientific officer David Scott and vice president Jerry McAleer have repaid sums they owed the company through promissory notes.

The Waltham developer of diagnostic devices said in a filing with the Securities and Exchange Commission that it issued five-year promissory notes in December 2001 in the amount of about $2.48 million to Scott and $1.55 million to McAleer.

Scott's and McAleer's promissory notes carried a 3.97% annual interest rate and were issued in connection with the executives' purchases of restricted stock in 2001, the company said in a previous SEC filing. (Dow Jones)