Inverness cuts 107 jobs at California operation
Inverness Medical Innovations Inc., which has expanded its portfolio of medical diagnostic products through a series of acquisitions, has cut 107 positions from a California company it bought in June for $1.6 billion.
In a filing with the Securities and Exchange Commission, Waltham-based Inverness said the positions were eliminated from the San Diego operations of Biosite Inc. to trim costs.
The downsizing at Biosite, which makes tests for detecting heart disease, followed previous cuts of 56 positions, Inverness said.
Earlier today, Inverness, which sells over-the-counter pregnancy and fertility tests, disclosed a $36 million agreement to buy Matritech Inc., a Newton company that makes products for the early detection of cancer.
(By Chris Reidy, Globe staff)
