Notified on 16 August 2006, this merger consists of the acquisition by Inverness Medical Innovations, Inc. (INVERNESS) of sole control of the assets, properties, holdings, and activities of research into and development, production, marketing and sale of lateral flow diagnostic tests and directly related products, belonging to ACON Laboratories Inc. The assets are acquired from the Azure Institute Inc., LBI Inc., Oakville Hong Kong Co. Ltd and ACON Biotech (Hangzhou) Co. Ltd (collectively termed as "ACON"), in the United States, Canada and Europe (excluding Russia and the republics of the former Soviet Union not belonging to the European Union at the time of the Agreement), Turkey, Israel, Australia, Japan and New Zealand.