Sensitivity problems with rapid antigen tests are also helping the more accurate rapid molecular tests gain wider acceptance, manufacturers said.
The portable device runs an isothermal amplification assay to detect genetic material from strains of tuberculosis in resource limited areas.
The company immediately borrowed $255 million to pay part of the $680 million price tag for Alere's MeterPro cardiovascular and toxicology business and its BNP assay business.
The offer of $402 per share was made in connection with Abbott's acquisition of Alere, which was completed on Tuesday.
Abbott said in an SEC filing today that the "aggregate consideration" paid regarding the merger was about $4.6 billion and that Alere is now an Abbott subsidiary.
Abbott's tender offer to purchase all outstanding shares of Alere's Series B convertible perpetual preferred stock at $402 per share is now scheduled to expire on Oct. 3.
The firm said that it will soon apply for a CLIA waiver of the second-generation test,which can report positive results in as little as five minutes
The firm said today that it has received all regulatory clearances to close the deal that it first proposed in February 2016.
The deal ends an investigation by the SEC into certain accounting practices by Alere's foreign subsidiaries. The company also consented to a cease-and-desist order.
Investment banks Canaccord Genuity and Raymond James also raised their price targets on the company.
Consulting company McKinsey says diagnostics companies will have to combine genomic data analysis, electronic medical records, effective reimbursement strategies, and regulatory compliance in order to win.
A new report has found that researchers in Africa are still heavily dependent on funding from organizations in the US, Europe, and China, Nature News says.
An article in The Atlantic argues that the progress being made in science isn't keeping pace with the money and time being spent on research.
In Science this week: a CRISPR screen identifies sideroflexin 1 as a requisite component of one-carbon metabolism, and more.