Alere buys out Standing Stone

Alere Inc. acquired the remaining shares of Standing Stone Inc. it did not already own, with the company having previously reported the transaction would amount to $2.6 million.

Based in Westport, Standing Stone provides disease management services for people undergoing long-term treatment for chronic diseases. Connecticut Innovations invested $700,000 in Standing Stone in 2007.

In the spring of 2011, Alere acquired an 81 percent stake in Standing Stone, which at the time of the deal had some 25 employees.

Waltham, Mass.-based Alere, which provides a range of patient monitoring services, lost $12.9 million in the second quarter on $701 million in revenue.