Coppersmith Presentation to Alere Inc Stockholders
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Endnotes
SCOPPERSMITH
20. See page 66
21. Source: Bloomberg
22. Estimated based on 2012 HM adjusted operating profit of $1mm, D&A of $40mm and capital expenditures of $42mm
23. Company press release, 1/28/08
24. Department of Health and Human Services article "Trends in Health Information Exchanges: A Conversation With J. Marc Overhage, MD, PhD, Chief
Medical Informatics Officer at Siemens Healthcare, Health Services", 6/5/13
25. KLAS report "Health Information Exchange 2012: Muddled in the Interfaces", 10/31/12
26. Allscripts press release, 5/3/13
27. Includes Proctor & Gamble, Colgate, Estee Lauder, Church & Dwight, Clorox and Kimberly-Clark
28. From the transcript of the JP Morgan Healthcare Conference on 1/12/11
29. Coppersmith estimates forward P/E multiple expansion to 14x from its current multiple of 11x, vs. peers multiple of 23x
30. Raymond James report, 6/19/13
31. Based on reported LTM Toxicology revenue, 30% operating margin as disclosed in Alere's presentation at the JP Morgan Healthcare Conference on
1/9/13, and segment D&A proportional to Toxicology's share of segment revenue
32. Mr. Hartman's tenures as interim CEO and CFO: 4/1/09 to 10/1/12
33. Mr. Martin's tenures as CEO at Barnes (7/1/95 to 12/8/98) and director of Ingersoll-Rand (6/6/96 to present, i.e. 6/28/13), C.R. Bard (10/8/03
to 4/17/13) and Applied Biosystems (3/22/99 to 11/21/08)
34. Brink's return from 4/20/05 (when MMI filed its original 13D) to 5/6/11 (when its last nominee left the board); BHS return from 11/3/08 (first day
of regular trading post spin-off) to 5/13/10 (its acquisition by Tyco)
35. Mr. Zwanziger's tenure as director: 11/8/06 to 12/16/11
36. ISS report on Alere's 2012 Annual Meeting
37. Glass Lewis report on Alere's 2011 Annual Meeting
38. Mr. Levy, Ms. Goldberg and Mr. Townsend were directors of Inverness Medical Technology prior to its sale to Johnson & Johnson. Mr. Levy and Ms.
Goldberg ere limited partners in EN PLC, a partners created by Mr. Zwanzige to purchase shares in Enviromed, a public company and former
joint venture partner of Inverness Medical Technology. Mr. Townsend was the former CEO of Enviromed
39. Wall Street Journal article "Behind a CEO's Departure: An Ouster or Resignation?", 2/28/12
40. Nycomed US press release, 8/1/11View entire presentation