Exhibit 99.1

                        INVERNESS CONFIRMS BINDING OFFER
                  TO ACQUIRE BIOSITE FOR $90 PER SHARE IN CASH

WALTHAM, Mass., April 26, 2007 - Inverness Medical Innovations, Inc. (Amex: IMA)
today confirmed that it has extended a binding offer to acquire Biosite (R)
Incorporated (Nasdaq: BSTE) in a cash merger transaction for $90.00 per share.

Commenting on Biosite's announcement, Ron Zwanziger, Chairman, President and
Chief Executive Officer of Inverness said, "We are extremely pleased that
Biosite's board has recognized our binding offer to acquire Biosite for $90 per
share in cash as clearly superior. We look forward to working with Biosite and
its shareholders to consummate this transaction expeditiously and are eager to
collaborate with Biosite to maximize the value this powerful, strategic
combination will create as we leverage Biosite's strength in proprietary protein
markers and robust cardiovascular platform together with our ongoing research
and development efforts."

Covington Associates and UBS Investment Bank are acting as financial advisors to
Inverness. Goodwin Procter LLP is serving as legal counsel to Inverness.

                                      # # #

About Inverness: Inverness Medical Innovations, Inc. is a leading developer of
advanced diagnostic devices and is presently exploring new opportunities for its
proprietary electrochemical and other technologies in a variety of professional
diagnostic and consumer-oriented applications including immuno-diagnostics with
a focus on women's health, cardiology and infectious disease. The Company's new
product development efforts, as well as its position as a leading supplier of
consumer pregnancy and fertility/ovulation tests and rapid point-of-care
diagnostics, are supported by the strength of its intellectual property
portfolio. Inverness is headquartered in Waltham, Massachusetts.

For additional information on Inverness Medical Innovations, Inc., please visit
our website at www.invernessmedical.com.

This press release may contain forward-looking statements within the meaning of
the federal securities laws. These statements reflect Inverness' current views
with respect to future events and are based on management's current assumptions
and information currently available. Actual results may differ materially due to
numerous factors including, without limitation, risks associated with the timing
of and costs of financing commitments and general competitive factors, market
and economic conditions generally, the demand for the acquired products, the
ability of Inverness to successfully develop and



commercialize the acquired products, the risks and uncertainties described in
Inverness' annual report on Form 10-K, as amended, for the period ended December
31, 2006, and other factors identified from time to time in its periodic filings
with the Securities and Exchange Commission. Risks and uncertainties relating to
the proposed transaction include without limitation the risks that: Biosite will
not terminate its merger agreement with Beckman Coulter; Biosite will not enter
into any definitive agreement with Inverness or, if entered into, that the terms
of any agreement will be materially different from those described above;
Inverness will not obtain the requisite debt financing for the transaction; the
anticipated benefits of the transaction will not be realized; the changes to
infrastructure will not be realized or will cost more than anticipated; the
closing conditions to any transaction that may be entered into are not realized;
and the proposed transactions will not be consummated. Inverness undertakes no
obligation to update any forward-looking statements contained herein.

ADDITIONAL INFORMATION ABOUT THE PROPOSED TRANSACTION AND WHERE TO FIND IT:

This material relates to a business combination transaction with Biosite
proposed by Inverness, which may become the subject of a proxy statement filed
with the Securities and Exchange Commission ("SEC"). This material is not a
substitute for the proxy statement that Biosite would file with the SEC if any
agreement is reached. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY
STATEMENT AND ALL OTHER RELEVANT DOCUMENTS IF, AND WHEN, THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. All such documents, if filed,
would be available free of charge at the SEC's website (www.sec.gov) or by
directing a request to Biosite, 11030 Roselle St., San Diego, CA 92121 (619)
455-4808.

Participants in any solicitation that may occur in the event Inverness and
Biosite enter into the proposed cash merger transaction:

In the event a transaction is entered into by and between Inverness and Biosite,
Biosite and its directors, executive officers and other employees may be deemed
to be participants in any solicitation of Biosite shareholders in connection
with the proposed transaction.

Information about Biosite's directors and executive officers is available in
Biosite's proxy statement for its 2006 annual meeting of stockholders, as filed
with the SEC on April 28, 2006.