<PAGE>


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                    FORM 10-K

(MARK ONE)

    [X]    ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
           SECURITIES EXCHANGE ACT OF 1934

                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000

    [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
           SECURITIES EXCHANGE ACT OF 1934

              FOR THE TRANSITION PERIOD FROM _________ TO _________

                         COMMISSION FILE NUMBER 00-20871

                       INVERNESS MEDICAL TECHNOLOGY, INC.
                            (FORMERLY SELFCARE, INC.)
             (Exact Name of Registrant as Specified in Its Charter)

                 DELAWARE                                04-3164127
     (State or other jurisdiction of        (I.R.S. Employer Identification No.)
      incorporation or organization)                       02453
200 PROSPECT STREET, WALTHAM, MASSACHUSETTS              (Zip Code)
 (Address of principal executive offices)

                                 (781) 647-3900
              (Registrant's telephone number, including area code)

         Securities registered pursuant to Section 12(b) of the Act:

                                                     NAME OF EACH EXCHANGE
           TITLE OF EACH CLASS                        ON WHICH REGISTERED
           -------------------                        -------------------
           Common Stock, $0.001                     American Stock Exchange
           per share par value

         Securities registered pursuant to Section 12(g) of the Act:

                                   -----------
                                 Title of Class

         Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes [ X ] No [ ]

         Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K. Yes [ ] No [ X ]

         The aggregate market value of the voting stock held by non-affiliates
(persons other than directors, executive officers, and related family entities)
of the registrant based on the closing price of the registrant's stock on the
American Stock Exchange on March 9, 2001 was $723,358,777.

         As of March 9, 2001, the registrant had 31,128,833 shares of common
stock, par value $0.001 per share, outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

         Portions of the Company's 2000 Annual Report to Shareholders which is
filed with the Securities and Exchange Commission as an exhibit hereto and the
definitive Proxy Statement to be filed with the Securities and Exchange
Commission on or prior to April 30, 2001 are incorporated by reference into
Parts II and III of this Form 10-K.


<PAGE>


                                     PART I

THIS ANNUAL REPORT ON FORM 10-K CONTAINS FORWARD-LOOKING STATEMENTS WITHIN
THE MEANING OF SECTION 27A OF THE SECURITIES ACT OF 1933 AND SECTION 21E OF
THE SECURITIES EXCHANGE ACT OF 1934. THERE ARE A NUMBER OF IMPORTANT FACTORS
THAT COULD CAUSE ACTUAL RESULTS OF INVERNESS MEDICAL TECHNOLOGY, INC.,
FORMERLY SELFCARE, INC., AND ITS SUBSIDIARIES TO DIFFER MATERIALLY FROM THOSE
INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE FACTORS INCLUDE, BUT ARE
NOT LIMITED TO, A CHANGE IN OUR RELATIONSHIP WITH LIFESCAN, INC. (LIFESCAN),
WHOM WE DEPEND UPON TO DISTRIBUTE CERTAIN OF OUR EXISTING PRODUCTS,
MANUFACTURING PROBLEMS OR DELAYS AND THE RISK THAT WE MAY BE UNABLE TO EXPAND
PRODUCTION CAPACITY TO MEET PROJECTED DEMAND, THE RISKS OF PRODUCT DEFECTS
AND FAILURE TO MEET STRICT REGULATORY REQUIREMENTS BOTH IN THE UNITED STATES
AND EUROPE, UNCERTAINTY THAT NEWLY INTRODUCED PRODUCTS WILL GAIN MARKET
ACCEPTANCE, INCLUDING THE ONE TOUCH(R) ULTRA ELECTROCHEMICAL BLOOD GLUCOSE
MONITORING SYSTEM TO BE MARKETED, SOLD AND DISTRIBUTED BY LIFESCAN, INTENSE
COMPETITION, WHICH COULD REDUCE OUR MARKET SHARE OR LIMIT OUR ABILITY TO
INCREASE MARKET SHARE, AND OTHER RISK FACTORS. READERS SHOULD CAREFULLY
REVIEW THE FACTORS DISCUSSED IN THE SECTION ENTITLED "MANAGEMENT'S DISCUSSION
AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS--CERTAIN
FACTORS AFFECTING FUTURE RESULTS" OF OUR 2000 ANNUAL REPORT TO SHAREHOLDERS,
PORTIONS OF WHICH ARE FILED HEREWITH (EXHIBIT 13.1), AND IN OUR PERIODIC
FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION MADE UNDER THE SECURITIES
EXCHANGE ACT OF 1934, AS AMENDED, INCLUDING QUARTERLY REPORTS ON FORM 10-Q
AND CURRENT REPORTS ON FORM 8-K, AND SHOULD NOT PLACE UNDUE RELIANCE ON OUR
FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS WERE BASED ON
INFORMATION, PLANS AND ESTIMATES AT THE DATE OF THIS REPORT, AND WE DO NOT
PROMISE TO UPDATE ANY FORWARD-LOOKING STATEMENTS TO REFLECT CHANGES IN
UNDERLYING ASSUMPTIONS OR FACTORS, NEW INFORMATION, FUTURE EVENTS OR OTHER
CHANGES. UNLESS THE CONTEXT REQUIRES OTHERWISE, REFERENCES IN THIS ANNUAL
REPORT ON FORM 10-K TO "WE", "US", AND "OUR" REFER TO INVERNESS MEDICAL
TECHNOLOGY, INC. AND ITS SUBSIDIARIES.

ITEM 1. BUSINESS

OVERVIEW

The history of our Company began when it was incorporated as Selfcare, Inc.
in Delaware on August 25, 1992 and acquired its predecessor company, Superior
Sensors, Inc., by merger on September 15, 1992. In 1995, we acquired an
equity interest in Inverness Medical Limited (Inverness Scotland), which was
formed in 1994, of which we have since purchased the remaining equity
interest. Through our alliance with LifeScan, a subsidiary of Johnson &
Johnson, we and Inverness Scotland launched our first electrochemical blood
glucose monitoring system for diabetes in early 1998. In 1997, we formed our
wholly-owned subsidiary, Inverness Medical, Inc., for the sole purpose of
purchasing and selling certain acquired consumer products. We also acquired
Cambridge Diagnostic Ireland Ltd, an Irish corporation, in 1994, Orgenics
Ltd., an Israeli corporation, in 1997, and Can-Am Care Corporation, a New
York corporation, in 1998. Effective May 11, 2000, we changed our name to
Inverness Medical Technology, Inc. Our principal executive offices are
located at 200 Prospect Street, Waltham, MA 02453 and our telephone number is
(781) 647-3900. As of May 1, 2001, our principal offices will move to 51
Sawyer Road, Suite 200, Waltham, MA 02453.

We develop, manufacture and market innovative products focused primarily on
diabetes self-management. Our principal products are advanced electrochemical
blood glucose monitoring systems that are used by people with diabetes to
determine their blood glucose levels in order to manage their disease. Our
systems are accurate, small, fast and easy to use. Such systems utilize our
proprietary biosensor test strips, which quickly draw blood into the strip,
require only a small sample and provide users with the option of sampling from
the forearm, thus avoiding the need for finger sticking. We believe that the
increased convenience and comfort offered by our systems will encourage more
frequent blood glucose testing, an essential element of effective diabetes
self-management. Our systems focus on the more than $3 billion worldwide blood
glucose monitoring market. We introduced our first-generation electrochemical
blood glucose monitoring system in early 1998 and have shipped over 1.7 million
meters for this system through 2000. Meter shipments for this system more than
doubled in 2000 as compared to 1999. We believe that meter sales form the base
for future sales of our electrochemical test strips, thus providing us with a
source of recurring revenue. Additionally, we use our diabetes expertise to
design and manufacture low-cost alternative test strips for use in blood glucose
meters made by other manufacturers. We also market a full family of ancillary
diabetes supplies such as syringes,


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lancets, glucose tablets and specialty skin creams. Our net sales of diabetes
products were $115.5 million in 2000, an increase of approximately 62% from
1999. We expect that our revenue growth in the foreseeable future will be
derived primarily from increased sales of our electrochemical blood glucose
monitoring systems.

We also sell products for the women's health market and, to a lesser extent, the
infectious disease market. Our products for the women's health market include
home pregnancy detection tests, ovulation prediction tests and a line of
nutritional supplements. Our products for the infectious disease market include
tests used for the detection of certain diseases and agents, such as HIV-1 and
HIV-2, hepatitis and chlamydia.

Our objective is to be the leading provider of innovative products that provide
a fully integrated and comprehensive approach to the self-management of
diabetes. The key elements of our strategy for achieving this goal are to:

     o    continue to develop superior blood glucose monitoring products;

     o    maximize market penetration of our products through strategic
          partnerships, and through our wholesale and retail distribution
          networks;

     o    develop or acquire a comprehensive and integrated array of products
          for diabetes self-management; and

     o    continue to manufacture high quality products in mass volumes at low
          cost.

BUSINESS DEVELOPMENTS

ALLIANCE WITH LIFESCAN, INC.

Beginning in 1995, we have entered into development and global distribution
agreements with LifeScan, which were amended in June 1999 and again in February
2001, effective January 1, 2001. Under the agreements with LifeScan, we develop
and manufacture, and LifeScan markets as our sole distributor, electrochemical
blood glucose monitoring systems. LifeScan markets our first-generation
electrochemical system under its trademark, ONE TOUCH(R) FastTAKE(R).
Furthermore, under the amendment signed in February 2001, LifeScan has agreed to
increase its purchase of glucose meters from us during 2001 and we have agreed
to reduce the price of such meters purchased by LifeScan in 2001. Under the
terms of the agreements, LifeScan is not prohibited from selling other blood
glucose monitoring systems, including electrochemical systems. However, if
LifeScan either (i) introduces such a system not sourced from us prior to
December 31, 2002 or (ii) fails to purchase specified minimum annual levels of
our test strips, we are released from a restriction under the agreements
prohibiting us from selling complete electrochemical blood glucose monitoring
systems to parties other than LifeScan.

SECOND-GENERATION ELECTROCHEMICAL BLOOD GLUCOSE MONITORING SYSTEM

In August 2000, we received United States Food and Drug Administration (FDA)
clearance for our second-generation electrochemical blood glucose monitoring
system, which LifeScan markets under its trademark, ONE TOUCH(R) Ultra. We began
shipments of the ONE TOUCH(R) Ultra system to LifeScan in December 2000. This
system utilizes our latest proprietary test strip with a reduced blood sample
requirement of just one microliter and features the fastest test time of any
commercially available system at five seconds, providing enhanced convenience
and comfort.

We believe that our systems, which are the only electrochemical blood glucose
monitoring systems offered by LifeScan, are well positioned to capture an
increasing market share. Further, the agreements with LifeScan contemplate that
we will develop and manufacture, and LifeScan will market, additional
electrochemical blood glucose monitoring systems in the future.


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DEVELOPMENT AND LICENSE AGREEMENT WITH DEBIOTECH, S.A.

On October 14, 2000, we entered into a development and license agreement with
Debiotech, S.A. (Debiotech), a privately-owned Swiss company, pursuant to which
Debiotech seeks to develop an externally-worn insulin pump using its patented
micro electro-mechanical systems (MEMS) technology in exchange for a $10 million
fee. We will have the exclusive right to commercialize diabetes products using
Debiotech's MEMS technology and will pay a royalty ranging from 6.5% to 10.0% of
sales of such products. We also received an option, exercisable in certain
circumstances for an additional fee, for the exclusive right to commercialize an
implantable insulin pump which Debiotech may seek to develop using its
proprietary technology. We believe that our partnership with Debiotech may lead
to products that complement our current diabetes self-management products.

ACQUISITION OF INTEG INCORPORATED

On January 23, 2001, we acquired Integ Incorporated (Integ), a publicly-traded
development stage company that has developed a proprietary sampling technology
to extract interstitial fluid from the top layers of the skin. The purchase
price for Integ consisted of 1.9 million shares of our common stock in exchange
for all of Integ's outstanding common equity, $5.1 million in cash for the
redemption of shares of Integ's preferred stock, and additional direct
acquisition costs. We will record a significant amount of intangible assets in
connection with this acquisition and will incur a significant charge in the
first quarter of 2001 to write off a portion of the purchase price as in-process
research and development.

ACQUISITION OF LXN CORPORATION

On March 28, 2001, we acquired LXN Corporation (LXN), a privately-held
company that is developing and commercializing fructosamine monitoring
technology for people with diabetes. The purchase price for LXN consists of
795,110 shares of our common stock, approximately $5.0 million paid in cash
for certain expenses and employee benefits and $1.0 million which was
previously advanced to LXN. We expect to record a significant amount of
intangible assets in connection with this acquisition and to incur a
significant charge in the quarter ended March 31, 2001 to write off a portion
of the purchase price as in-process research and development costs.

We may be able to use Integ's and LXN's technologies, supplemented by our
additional research and development efforts, to develop products that are
complementary to our current product offerings in the areas of diabetes
self-management and medical diagnostics.

BUSINESS SEGMENTS AND GEOGRAPHIC AREA

Our major reportable operating segments are diabetes and women's health. To a
far lesser extent, we also sell clinical diagnostic test products in the
infectious disease market. We further categorize our sales by major geographic
areas of the world. Below are discussions of each of our operating segments.
Financial information about our business segments is provided in Note 17 of the
"Notes to Consolidated Financial Statements", which are included in our 2000
Annual Report to Shareholders (portions of which are filed herewith as Exhibit
13.1).

INDUSTRY OVERVIEW

OVERVIEW OF DIABETES

Diabetes is a chronic, life-threatening disease, for which there is no known
cure. Diabetes is not a single disease, but a cluster of disorders that share
certain common features, the most characteristic of which is


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elevated blood sugar levels. Under normal conditions, the human body responds to
an increase in blood glucose by releasing the hormone insulin. Insulin
stimulates the storage and metabolism of glucose, helping to return glucose
levels toward normal. The two most common forms of the disease, both of which
involve an insulin shortage in the human body, are referred to simply as Type 1
and Type 2 diabetes.

Type 1 diabetes is an auto-immune disease in which the human body does not
produce insulin. As a result, individuals with Type 1 diabetes require daily
injections of insulin to survive. Type 1 diabetes usually begins in childhood or
early adulthood, and thus was formerly called juvenile-onset diabetes, but
recent research has shown that it can occur at any age. Over 13,000 new cases of
Type 1 diabetes are diagnosed each year in the United States in children and
young adults under age 20. Type 1 accounts for 5% to 10% of diabetes worldwide.

Type 2 diabetes is a metabolic disorder resulting from the human body's
inability to make enough insulin or properly use insulin. Type 2 accounts for
90% to 95% of diabetes and is increasing at an alarming rate worldwide,
approaching epidemic proportions. This form of the disease is due in part to
increasing longevity, increasing obesity, more sedentary lifestyles and
increased levels of diagnosis. The form of the disease was thought to begin
after the age of 40 and was formerly called adult-onset diabetes, but is now
increasingly common even in childhood, especially in minority populations.

There are also many other forms of diabetes. Gestational diabetes mellitus
occurs in 2% to 5% of pregnant women, mainly as a result of resistance to the
action of insulin created by the hormones produced during pregnancy. Up to 50%
of these women will develop Type 2 diabetes later in life. In addition, diabetes
can develop as part of the pattern created by other hormonal diseases, specific
genetic defects or as a secondary effect of various stresses, including
infection, surgery or drugs.

All of these different types of diabetes can produce similar dire consequences
including blindness, kidney failure, changes in the ability of the nerves to
function normally, heart attacks, strokes, peripheral vascular insufficiency and
even periodontal disease and tooth loss.

In the United States, diabetes currently affects between 6% and 7% of the
population, or about 16 million people, and the annual cost of treatment is $44
billion. Of those affected, one-third do not even know they have the disease.
The number of individuals diagnosed with diabetes continues to grow by nearly
800,000 persons per year in the United States and will reach 23 million in just
10 years. According to the Center for Disease Control, the percentage of the
population found to have diabetes jumped 33% nationally to 6.5% between 1990 and
1998. This percentage increased 70% among people in their 30's.

IMPORTANCE OF BLOOD GLUCOSE MONITORING

Every person's blood glucose level varies during the course of a day depending
upon factors such as diet, insulin availability, exercise, stress and illness.
Normal blood glucose levels fluctuate between 80 and 120 milligrams per
deciliter, or mg/dL. For people with diabetes, these levels can fluctuate
dramatically from less than 20 mg/dL to more than 1,000 mg/dL. To successfully
manage blood glucose levels within the normal range, a person with diabetes must
first measure his or her blood glucose level and then manage this level by
adjusting insulin intake, oral medication, diet and exercise.

Today, the availability of compact, easy-to-use monitoring systems that provide
fast and accurate blood glucose measurements give people with diabetes a
valuable tool to manage the disease more effectively, improve their quality of
life and minimize the risk of long-term complications. The blood glucose
monitoring market, consisting of both glucose meters and test strips, is
estimated to be more than $3 billion worldwide and is expected to grow to more
than $5 billion by 2005.

The landmark multi-year study, Diabetes Control and Complications Trial, or
DCCT, sponsored by the National Institute of Health, showed that the onset or
progression of eye, kidney and nerve disease in people with Type 1 diabetes can
be slowed by intensive therapy to maintain blood glucose levels as close to
normal as possible. Studies in the United Kingdom and Japan found similar
results in people with Type 2 diabetes. These studies indicate that control of
blood glucose is the first step towards reducing


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diabetes-related complications. The American Diabetes Association, or the ADA,
recommends that people with diabetes test their blood glucose as frequently as
four times per day.

LIMITATIONS OF EXISTING GLUCOSE MONITORING PRODUCTS

Despite the proven benefits of frequent monitoring and intensive management of
blood glucose levels, a significant number of people with diabetes fail to test
at the recommended frequency, or at all. We believe that people with diabetes
test, on average, slightly more than once per day, compared to the recommended
four tests per day. We believe this under-testing is due to the limitations of
existing products including:

     o    DISRUPTION OF LIFESTYLE. The process of measuring blood glucose levels
          causes significant disruption to the daily lifestyle of people with
          diabetes. To obtain a sample, users are generally required to stick
          one of their fingertips with a lancing device, which typically
          consists of a spring-loaded needle that penetrates a measured distance
          into the finger. Users must then draw a sample of blood from the
          finger, which often requires squeezing of the fingertips and may
          require another finger stick if a sufficient volume of blood is not
          obtained the first time. After drawing a blood sample, users generally
          are required to apply the blood sample on a disposable test strip.
          Blood glucose meters typically take between 20 and 40 seconds to
          display the test result. In addition, the need to obtain a large
          sample of blood from the user's fingertips is inconvenient and causes
          discomfort. The length of time required to conduct the test and the
          complexity of existing glucose monitoring systems discourage users
          from frequent testing and contribute to poor compliance.

     o    PERCEIVED PAIN AND SORE FINGERTIPS. Although fingertips provide a good
          site to obtain blood samples, they also contain many specialized
          sensory nerve endings that make both the lancing and the manipulation
          of the finger painful. Most of the blood glucose meters currently on
          the market require users to draw a sample size of between 2 and 10
          microliters in order to accurately measure blood glucose levels. The
          larger the blood sample required, the more likely a user will require
          wider or deeper lancing in order to successfully draw the sample,
          leading to more contact with sensitive nerve endings and increased
          pain. Drawing a large enough sample of blood may require squeezing the
          fingertips and cause incremental discomfort. The level of pain and
          discomfort is compounded by the fact that fingertips offer limited
          surface area, and therefore, tests are often conducted in areas that
          are sore from repeated daily tests. Users may also suffer pain or
          discomfort after the test is completed when the wound caused by the
          lancing device is touched or disturbed during normal daily activities.
          Additionally, many frequent testers develop calluses on their
          fingertips that cause a loss of sensation, are unattractive and make
          subsequent testing more difficult.

We believe that blood glucose monitoring systems that provide increased
convenience and comfort will lead to significant growth in the frequency of
daily testing and will capture an increased share of the growing blood glucose
monitoring market.

OTHER SELF-TEST MARKETS

The market for women's health self-test products is comprised mostly of home
pregnancy detection tests, which represent 90% of the market, and ovulation
prediction tests, which represent 10% of the market.

There are numerous pregnancy self-tests on the market, which are typically
urine-based tests and provide results in less than five minutes. Pregnancy
self-tests are sensitive enough to indicate pregnancy within one or two days of
a missed menstrual period. Determinations of fertility are generally made using
ovulation prediction tests, most notably those based on the luteinizing hormone.
Approximately 15% of couples in the United States experience fertility problems.
We believe that increased awareness of the incidence of infertility, as well as
a desire on the part of couples to plan conception with more certainty, has led
to increasing demand for ovulation prediction tests. Ovulation prediction
urine-based tests are generally easy to use and are becoming widely accepted by
professional fertility care providers and the general public.


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BUSINESS STRATEGY

Our objective is to be the leading provider of innovative diabetes
self-management products that provide a fully-integrated and comprehensive
approach to self-management of diabetes. The key elements of our strategy for
achieving this goal are to:

     o    CONTINUE TO DEVELOP SUPERIOR BLOOD GLUCOSE MONITORING PRODUCTS. We
          will continue to focus our research and development efforts to expand
          our expertise in diabetes management. These efforts enable us to
          improve upon our existing monitoring systems, resulting in increased
          convenience and comfort. Since early 1998, we have introduced two
          generations of electrochemical blood glucose monitoring systems that
          are accurate, small, fast and easy to use. Both of these systems
          utilize our proprietary test strips that provide users with the option
          of alternate site, off-finger testing. We plan to continue to
          introduce new products as we strive to achieve our goal of introducing
          pain-free, non-disruptive, continuous glucose monitoring systems.

     o    MAXIMIZE MARKET PENETRATION OF OUR PRODUCTS THROUGH STRATEGIC
          PARTNERSHIPS AND THROUGH OUR WHOLESALE AND RETAIL DISTRIBUTION
          NETWORKS. We intend to build upon our worldwide distribution
          relationship with LifeScan in order to increase our existing 5% share
          of the United States blood glucose test strip market and to gain
          significant market share in other countries. LifeScan presently
          controls 38% of the blood glucose test strip market in North America.
          Currently, 85% of the test strips sold by LifeScan are photometric
          based and 15% are electrochemical. Recently, LifeScan announced a
          shift in its marketing focus to electrochemical blood glucose monitors
          from its historical emphasis on photometric monitors. We are currently
          the sole supplier of electrochemical systems to LifeScan. We believe
          that the combination of our superior systems and LifeScan's
          well-established "ONE TOUCH(R)" brand name, promoted and sold by its
          1,000 person global sales force and worldwide distribution
          capabilities, provides a significant opportunity to increase our
          market penetration. In addition, we market our low-cost alternative
          blood glucose test strips for use in meters made by other
          manufacturers through other strategic relationships with companies
          such as Menarini Industrie Farmaceutical Riunite S.R.L. of Italy, B.
          Braun Melsungen AG of Germany and Azupharma GmbH & Co., a unit of
          Novartis. Our other diabetes products are sold primarily through our
          own wholesale and retail distribution networks.

     o    DEVELOP OR ACQUIRE A COMPREHENSIVE AND INTEGRATED ARRAY OF PRODUCTS
          FOR DIABETES SELF-MANAGEMENT. We believe that we are well positioned
          to draw on our industry knowledge, technical capabilities and market
          position to develop additional innovative tools that people with
          diabetes can use to more effectively manage their disease. We recently
          acquired Integ, which has developed a proprietary sampling technology
          to extract interstitial fluid from the top layers of the skin. We also
          recently acquired LXN, which is developing and commercializing
          fructosamine monitoring technology primarily for use by people with
          Type 2 diabetes. In addition, we recently entered into a development
          and license agreement with Debiotech pursuant to which Debiotech
          will develop an externally-worn insulin pump using its MEMS
          technology. Through these and other selective acquisitions and
          strategic partnerships, as well as our own ongoing research and
          development efforts, we intend to develop and introduce products which
          will offer people with diabetes and their health care professionals a
          comprehensive and integrated approach to the management of the disease
          and generate recurring revenues.

     o    CONTINUE TO MANUFACTURE HIGH-QUALITY PRODUCTS IN MASS VOLUMES AT LOW
          COST. One of the most significant contributors to our growth has been
          and will continue to be the increase of manufacturing capacity for our
          proprietary electrochemical blood glucose test strips. We have fully
          internalized this aspect of our business by establishing and growing
          our high-quality, low-cost and large-volume strip manufacturing
          capability at our facility in Inverness, Scotland. Currently, we have
          identified, and will continue to seek, those portions of our
          operations that are outside of this core competency and will continue
          to outsource those portions when appropriate.


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PRODUCTS

Our main products consist of self-diagnostic tests which target diabetes
management and women's health, as well as nutritional supplements targeted
primarily to women. To a far lesser extent, we also sell various clinical
diagnostic test products in the infectious disease market.

DIABETES MANAGEMENT PRODUCTS

We develop, manufacture and market electrochemical blood glucose monitoring
systems, which include meters and associated test strips. The following chart
compares some of the characteristics of our first and second generation
systems, marketed by LifeScan under its brands, ONE TOUCH(R) FastTAKE(R) and
ONE TOUCH(R) Ultra, respectively, in relation to other widely available
electrochemical blood glucose monitoring systems being sold today:

<TABLE>
<CAPTION>
                                                                    BAYER          BAYER
       COMPANY             LIFESCAN         ROCHE DIAGNOSTICS    DIAGNOSTICS    DIAGNOSTICS    MEDISENSE
<S>                      <C>              <C>                    <C>              <C>            <C>
                          ONE TOUCH(R)                           Glucometer(R)
   CHARACTERISTIC/       FastTake(R)/ONE       Accu-Check(R)     Elite(R)/Elite   Glucometer(R)  Precision
       SYSTEM            TOUCH(R)Ultra          Advantage(R)         XL(R)          DEX(R)       Q.I.D.(R)

   Alternate site             Yes                  No                 No             No            No
testing (off-finger)

     Sample size                               4 (Comfort
    (microliters)           1.5/1.0           Curve(TM)Strip)         2/2            3/4           3.5
                                          9 (Advantage(R)Strip)

 Test time (seconds)         15/5                  40               30/30            30            20
</TABLE>

Both the ONE TOUCH(R) FastTAKE(R) and ONE TOUCH(R) Ultra systems consist of an
electrochemical meter, with a large, easy to read visual display and associated
biosensor test strips. To operate these systems, the strip is inserted into the
meter, which automatically activates from standby mode. The user then applies a
small blood sample to the end of the test strip, which automatically initiates
the test, and the meter displays the result. Both systems feature internal
memory and data downloading capabilities to provide people with diabetes
information to more effectively manage their disease, either individually or
with their health care professionals. The ONE TOUCH(R) FastTAKE(R) system has
accounted for the majority of our recent growth, and we expect the ONE TOUCH(R)
Ultra system will further enhance this growth.

We also produce and sell low-cost alternative blood glucose test strips for use
in other leading brand meters, such as its Excel(R) G strips for use in the
Bayer Glucometer(R) Elite(R). We distribute these low-cost alternative strips in
the United States and Europe. In addition, we distribute a comprehensive line of
ancillary diabetes care products, including lancets, glucose tablets, syringes
and specialty skin creams in the United States. Many of these products are sold
under store brand labels of retail drug store chains and mass merchandisers.

WOMEN'S HEALTH PRODUCTS

We market a variety of women's health products including pregnancy detection and
ovulation prediction self-tests, as well as nutritional supplement products
targeted primarily to women.

Our pregnancy detection tests enable women to detect pregnancy at home through
urine sampling. These tests display visual results in approximately three
minutes. All of our pregnancy detection tests are manufactured at our facility
in Galway, Ireland, and are generally sold over-the-counter by drug store chains
and mass merchandisers under their own store brand label. We also increasingly
market these products under our own brand.


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Our ovulation prediction tests, marketed as the Early Ovulation Predictor under
our own brand name and under various store brand labels of retail drug chains
and mass merchandisers, are used by women to test for ovulation in their own
home as an aid to family planning and provide 24 to 48 hour notice of when
ovulation is likely to occur. Our tests are easy-to-use and provide clinically
accurate results in approximately three minutes. All of our ovulation prediction
tests are manufactured at our facility in Galway, Ireland.

We market a line of nutritional supplements through retail drug store chains and
mass merchandisers. Our nutritional supplement product line includes
SoyCare(TM), Stresstabs(R), Ferro-Sequels(R) and Posture(R).

CLINICAL DIAGNOSTICS PRODUCTS

To a far lesser extent, we manufacture and market through our wholly-owned
subsidiary, Orgenics Ltd., in Yavne, Israel, professional diagnostic test
products based on several proprietary technological systems, including
genetic assays, immunoassays, rapid tests and confirmatory tests using
multiple antigens. These tests, or adaptations of them, are applicable to
detecting a wide variety of infectious diseases and agents, including HIV-1
and HIV-2, hepatitis and chlamydia. These clinical diagnostic products are
designed to enable small-to-medium-sized laboratories to analyze low volumes
of tests economically.

MARKETING AND SALES

ELECTROCHEMICAL BLOOD GLUCOSE MONITORING SYSTEMS

All of our electrochemical blood glucose monitoring systems are marketed, sold
and distributed by LifeScan under a worldwide distribution agreement. We
established our relationship with LifeScan in 1995 and introduced our first
generation system in early 1998. LifeScan primarily markets, sells and
distributes our systems in North America and Europe and is expanding into
additional international markets, including Japan. LifeScan presently maintains
a global sales force of approximately 1,000 professionals who are focused
entirely on marketing their ONE TOUCH(R) family of blood glucose monitoring
systems, including ONE TOUCH(R) FastTake(R) and ONE TOUCH(R) Ultra. LifeScan has
recently announced that it has shifted the primary focus of its sales and
marketing efforts to electrochemical-based systems as part of its broader
strategy to increase market share. We are currently the sole supplier of such
systems to LifeScan.

LOW-COST ALTERNATIVE BLOOD GLUCOSE TEST STRIPS FOR USE IN LEADING BRAND METERS
   MADE BY OTHER MANUFACTURERS

We market and sell Excel(R) G, a low-cost alternative test strip, for use in the
Bayer's Glucometer(R) Elite(R) system in the United States through our own
wholesale and retail distribution networks. In Europe, we market Excel(R) G
through a strategic partnership with Azupharma. We also utilize other strategic
partnerships to market and sell additional alternative test strips in Europe. We
believe that these strategic partnerships allow us to leverage the brand name,
marketing and distribution strength of our partners in their respective
geographic areas in order to enhance market penetration. For example, we have a
strategic partnership with Menarini under which Menarini markets and sells test
strips for use in its own electrochemical meter. We have a similar arrangement
with B. Braun which distributes another of our test strips for use in its
electrochemical meter.

OTHER ANCILLARY DIABETES CARE PRODUCTS

We market and sell our ancillary diabetes care products in the United States,
including lancets, glucose tablets, syringes and specialty skin creams. We sell
these products under our own brand names, as well as under store brands of
retail drug store chains, including CVS, Eckerd Drug, Walgreens and Rite-Aid,
and mass merchandisers, such as Wal-Mart, Kmart and Target.

WOMEN'S HEALTH PRODUCTS

We market and sell our women's health products, including nutritional
supplements, under our own brand names as well as under store brands of retail
drug store chains and mass merchandisers in the United States.


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CLINICAL DIAGNOSTIC PRODUCTS

We have sales offices in Israel, France, Brazil and Colombia which distribute
our clinical diagnostic products to professional institutions and other
companies in more than 90 countries, principally in Europe, Latin America,
Africa and Asia.

MANUFACTURING

Our principal manufacturing facilities are in Inverness, Scotland, where we
produce electrochemical blood glucose test strips, and Galway, Ireland, where we
produces pregnancy detection and ovulation prediction tests. We also have a
manufacturing facility in Yavne, Israel, where we produce our clinical
diagnostic test products. In addition, we utilize contract manufacturers to
produce our electrochemical blood glucose monitoring meters, ancillary diabetes
care products, nutritional supplements and other women's health products.

Since we opened our facility in Inverness, Scotland, in December 1995, we have
devoted substantial efforts to developing a technologically advanced production
facility that we believe gives us a competitive advantage. Our Inverness
facility is an FDA registered establishment which has been configured for highly
automated, low-cost production of advanced electrochemical biosensor test
strips. Currently consisting of 103,500 square feet, this facility integrates
manufacturing closely with our research and development efforts, to allow us to
produce mass volumes of test strips to the technical specifications set out by
our development teams. Our sophisticated manufacturing systems allow us to
automatically produce, cut and pack test strips in vials that consistently meet
the quality control standards which regulate our operation. These production
efforts permit us to commercialize and deliver innovative technology in a
consistent, high-quality and cost-effective manner. Although our existing
capacity at Inverness is sufficient to satisfy our contractual obligations, we
are currently expanding our production capacity to meet anticipated demand.

We produce our pregnancy detection and ovulation prediction tests at our
facility in Galway, Ireland. Our Galway facility is an FDA registered
establishment which employs modern production techniques to produce consistent,
high-quality components that are assembled on-site and subsequently packaged by
a third party in the United States.

RESEARCH AND DEVELOPMENT

We are focusing our research and development efforts primarily on the
development of our diabetes self-test diagnostic products, including
electrochemical blood glucose monitoring systems, alternative low-cost test
strips and non-invasive and continuous blood glucose measurement technologies.
In addition, we devote a lesser degree of resources to the development of new
products and enhanced features for our lines of women's health and clinical
diagnostics products. Most of our research and development activities are
carried out in Inverness, Scotland, Waltham, Massachusetts, St. Paul, Minnesota,
Galway, Ireland, and Yavne, Israel. We supplement our internal research and
development efforts with third parties' efforts either through co-development or
licensing arrangements, or through product or technology acquisitions. In
connection with our co-development or licensing activities, we may provide
financial development assistance to these parties and may also utilize our own
research and development resources to design certain portions of such products.

Total research and development expenses for 2000, 1999 and 1998 were $12.5
million, $6.9 million and $7.4 million, respectively. We expect to spend a
significant and increasing amount on research and development efforts during
2001.


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COMPETITION

DIABETES MANAGEMENT PRODUCTS

The medical products industry, including the self-test industry, is quickly
evolving and developments are expected to continue at a rapid pace. Competition
in this industry is intense and we expect it to increase as new products and
technologies become available and new competitors enter the market. Our
competitors in the United States and abroad are numerous and include, among
others, diagnostic testing and medical products companies, universities and
other research institutions. Our success depends, in part, upon developing and
maintaining a competitive position in the development of products and
technologies in our area of focus. Our competitors may succeed in developing
technologies and products that are more effective than those that we have been
or are developing or that render our technologies or products obsolete or
noncompetitive. Our competitors may also succeed in obtaining patent protection
or other intellectual property rights that would prevent us from developing our
potential products, or in obtaining regulatory approval for the
commercialization of their products more rapidly or effectively than we are able
to. Finally, many of our existing or potential competitors have or may have
substantially greater research and development capabilities, clinical,
manufacturing, regulatory and marketing experience and financial and managerial
resources than us.

We market low-cost alternative test strips that are used in other manufacturers'
electrochemical blood glucose monitoring systems. If we succeed in the
alternative strip market, others may attempt to enter this market with similar
products. In addition, the introduction of lower-priced alternative test strips
could lead the manufacturers of the systems, with which our low-cost alternative
test strips are compatible, to lower their own test strip prices, thereby
reducing or eliminating our price advantage.

We are also aware of several of our competitors who are attempting to develop
non-invasive blood glucose monitoring technologies. Non-invasive blood glucose
monitoring involves methods for measuring blood glucose levels without the need
to draw blood and, in certain proposed configurations, without the need to
utilize disposable components, such as test strips. We and several other
manufacturers are pursuing a number of different technological approaches to
non-invasive blood glucose monitoring. These include near-infrared spectroscopy,
which involves shining a beam of near-infrared light to penetrate the skin and
determine the amount of glucose in the blood, and reverse iontophoresis, which
utilizes a "patch" system to extract glucose through the skin for measurement by
an external meter. In addition, we and several other manufacturers are pursuing
minimally invasive approaches to blood glucose monitoring such as interstitial
fluid testing. The development and successful introduction of any such products
by any of our competitors could harm our business.

Four major medical products companies, Bayer Diagnostics, LifeScan, the
MediSense division of Abbott Laboratories and Roche Diagnostics, currently
account for more than 90% of worldwide sales of all blood glucose monitoring
systems. In addition, several smaller companies are in the process of developing
and rolling out blood glucose monitoring systems. We believe that people with
diabetes currently consider the following factors in selecting a blood glucose
monitoring system:

     o   brand name;

     o   recommendations by health care professionals;

     o   level of pain in use;

     o   size of the meter;

     o   ease and convenience of use;

     o   test time;

     o   accuracy and consistency;


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<PAGE>


     o   availability, cost and reimbursement status; and

     o   memory and data management.

In the ancillary diabetes care industry, which includes lancets, glucose
tablets, syringes, and specialty skin creams, competition is based principally
upon brand name recognition, price, quality of products, customer service and
marketing support. There are numerous companies in this industry selling
products to retailers. A number of these companies, particularly manufacturers
of nationally-advertised brand name products, are substantially larger than us
and have greater financial resources.

WOMEN'S HEALTH PRODUCTS

Competition in the pregnancy detection and ovulation prediction market is
intense. Our competitors in the United States are numerous and include, among
others, large medical and consumer products companies as well as private label
manufacturers. For consumer products companies, competition principally centers
around brand name recognition. For private label manufacturers, competition is
based primarily on the delivery of products with substantially the same features
and performance as brand name products at lower prices. Many of our competitors
have substantially greater financial, production, marketing and distribution
resources than us. In the women's health market, we believe that we have
developed a significant market penetration with our private label and branded
pregnancy detection and ovulation prediction tests. We believe that we can
continue to compete effectively in the women's health market based on our
research and development capabilities, advanced manufacturing expertise and
established wholesale and retail distribution networks.

In the nutritional supplements industry, competition is based principally upon
brand name recognition, price, quality of products, customer service and
marketing support. There are numerous companies in this industry selling
products to retailers. A number of these companies, particularly manufacturers
of nationally advertised brand name products, are substantially larger than us
and have greater financial resources.

CLINICAL DIAGNOSTIC PRODUCTS

The primary competitors of one of our infectious disease products, the
ImmunoComb, are standard enzyme-linked immunoabsorbent assay (ELISA) systems,
such as those produced by Organon, Inc., Pasteur Sanofi Diagnostics, Abbott and
Roche, and other diagnostic tests produced by Abbott and Ortho Diagnostic
Systems, Inc. ELISA tests are generally used by high-volume batch processors
such as blood banks and other centralized laboratories. In addition, there are
other rapid testing systems, generally for HIV, based upon immunoconcentration,
which can provide results in five to ten minutes. In contrast to ImmunoComb,
which is an immunoassay-based test used to simultaneously test multiple samples
for multiple analytes, the immunoconcentration systems are single sample and
mostly single analyte systems. We believe that the single sample presentation of
the immunoconcentration systems results in production costs per test that are
two to three times more expensive than those of the ImmunoComb, and that the
procedure for each immunoconcentration test limits the number of tests that can
be processed at one time. We believe that our HIV tests are competitive with
single analyte immunoconcentration tests in speed, but offer greater sensitivity
at a lower cost.

PATENTS AND PROPRIETARY TECHNOLOGY; TRADEMARKS

The medical products industry, including the diagnostic testing industry, places
considerable importance on obtaining patent and trade secret protection for new
technologies, products and processes. Our success will depend, in part, on our
ability to obtain patent protection for our products and manufacturing processes
to preserve our trade secrets and to avoid infringing the proprietary rights of
third parties.

We hold certain patent rights, have certain patent applications pending and
expect to seek additional patents in the future. However, we cannot assure you
as to the success or timeliness in obtaining any such patents


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or as to the breadth or degree of protection that any such patents might afford
us. The patent position of medical products and diagnostic testing firms is
often highly uncertain and usually involves complex legal and factual questions.
There is a substantial backlog of patents at the United States Patent and
Trademark Office. No consistent policy has emerged regarding the breadth of
claims covered in medical product patents. Accordingly, we cannot assure you
that patent applications relating to our products or technology will result in
patents being issued, that, if issued, such patents will afford adequate
protection to our products or that our competitors will not be able to design
around such patents. In general, patents in blood glucose monitoring systems
have offered protection in the form of delaying competitors in their efforts to
develop and produce competitive systems rather than completely foreclosing a
competitor's ability to design, develop and produce a product that is
competitive. In that regard, a company's research and development efforts,
supplemented by the timing protection afforded by protective patents, are what
leads to a competitive advantage.

We believe our research and development efforts, supplemented by our patent and
other intellectual property protection efforts, have given us a competitive
advantage in the development of our innovative electrochemical blood glucose
monitoring products. Accordingly, although we have several significant patents
and patent applications covering relevant portions of our electrochemical blood
glucose monitoring technology, we believe that our continued research and
development efforts and our intellectual property protection efforts for newly
developed technology are the most significant factors in achieving and
maintaining a position of technological and commercial leadership. In this
regard, we have recently acquired Integ, which has developed a technology to
test glucose through interstitial fluid samples. We believe this technology is
innovative and may be viable for commercialization, although our continued
research and development efforts will be needed to move towards
commercialization. Although Integ's patents offer some protection from
competition, our continued efforts will be required to realize the potential
benefits from these patents, which are also subject to certain third-party
licensing rights granted to another company that is in the diabetes management
business.

The medical products industry, including the diagnostic testing industry,
historically has been characterized by extensive litigation regarding patents,
licenses and other intellectual property rights. We could and have incurred
substantial costs in defending ourselves against patent infringement claims and
in asserting such claims against others. Under our arrangements with LifeScan,
we agreed to indemnify LifeScan for any claims that our electrochemical blood
glucose monitoring products, that LifeScan markets, sells and distributes,
infringe any patents. To determine the priority of inventions, we may also have
to participate in interference proceedings declared by the U.S. Patent and
Trademark Office, which could also result in substantial costs to us. If the
outcome of any such litigation is adverse to us, our business could be
materially adversely affected.

In addition, we are sometimes required to obtain licenses to patents or other
proprietary rights of third parties to market their products. We cannot assure
you that licenses required under any such patents or proprietary rights would be
made available on terms acceptable to us, if at all. If we do not obtain such
licenses, we may encounter delays in product market introductions while we
attempt to design around such patents or other rights, or we may be unable to
develop, manufacture or sell such products in certain countries, or at all.

We also seek to protect our proprietary technology, including technology that
may not be patented or patentable, in part through confidentiality agreements
and, if applicable, inventors' rights agreements with collaborators, advisors,
employees and consultants. We cannot assure you that these agreements will not
be breached, that we will have adequate remedies for any breach or that our
trade secrets will not otherwise be disclosed to, or discovered by, competitors.
Moreover, we may from time to time conduct research through academic advisors
and collaborators who are prohibited by their academic institutions from
entering into confidentiality or inventors' rights agreements.

Finally, we believe that certain of our trademarks in the nutritional
supplements product line are valuable assets and are important to the marketing
of the nutritional supplements. Substantially all of these trademarks have been
registered with the U.S. Patent and Trademark Office. We cannot assure you,
however, that registrations will afford us adequate protection and will not be
challenged as unenforceable


                                       12


<PAGE>


or invalid, or will not be infringed. In addition, we could incur substantial
costs in defending suits brought against us or in prosecuting suits in which we
assert rights under such registrations.

GOVERNMENT REGULATION

Our research, development and clinical programs, as well as our manufacturing
and marketing operations, are subject to extensive regulation by numerous
governmental authorities in the United States and other countries. Most of our
self-test products require governmental approvals for commercialization. New
products may require pre-clinical and clinical trials. Manufacturing and
marketing of many of our products are subject to the rigorous testing and
approval process of the FDA and corresponding foreign regulatory authorities.
The regulatory process, which includes pre-clinical and clinical testing of many
of our products to establish their safety and effectiveness, can take many years
and require the expenditure of substantial financial and other resources. Data
obtained from pre-clinical and clinical activities are susceptible to varying
interpretations that could delay, limit or prevent regulatory approval. In
addition, delays or rejection may be encountered based upon changes in, or
additions to, regulatory policies for device marketing authorization during the
period of product development and regulatory review. Delays in obtaining such
approvals could adversely affect our marketing of products developed and our
ability to generate commercial product revenues.

In addition, we are required to meet regulatory requirements in countries
outside the United States, which can change rapidly with relatively short
notice, resulting in our products being banned in certain countries and an
associated loss of revenues and income. Foreign regulatory agencies can also
introduce test format changes which, if we do not quickly address, can result in
restrictions on sales of our products. Such changes are not uncommon due to
advances in basic research.

The manufacturing, processing, formulation, packaging, labeling and advertising
of our nutritional supplements is subject to regulation by one or more federal
agencies, including the FDA, the Federal Trade Commission (FTC) and the Consumer
Product Safety Commission. These activities are also regulated by various
agencies of the states, localities and foreign countries in which our
nutritional supplements are now sold or may be sold in the future. In
particular, the FDA regulates the safety, manufacturing, labeling and
distribution of dietary supplements, including vitamins, minerals and herbs, as
well as food additives, over-the-counter (OTC) and prescription drugs and
cosmetics. The Good Manufacturing Practices promulgated by the FDA are different
for nutritional supplement, drug and device products. In addition, the FTC has
overlapping jurisdiction with the FDA to regulate the promotion and advertising
of dietary supplements, OTC drugs, cosmetics and foods.

THIRD-PARTY REIMBURSEMENT

Self-monitoring of blood glucose is a standard of care in the United States and
other developed countries. The costs associated with the purchase of blood
glucose monitoring products such as meters and test strips are generally
reimbursed. Medicare, Medicaid and a wide array of preferred provider
organizations in the United States currently reimburse users of our systems.
Currently, forty states have implemented legislation that requires private
health insurers and health maintenance organizations to reimburse people with
diabetes for the costs of blood glucose monitoring systems and supplies.
Reimbursement and health care payment systems in international markets vary
significantly by country, and include both government-sponsored health care and
private insurance.

PRODUCT LIABILITY AND LIMITED INSURANCE COVERAGE

The testing, manufacturing and marketing of medical diagnostic devices, such as
our blood glucose monitoring systems, entail an inherent risk of product
liability claims. In addition, the marketing of the nutritional supplements may
cause us to be subjected to various product liability claims, including, among
others, claims that our nutritional supplements have inadequate warnings
concerning side effects and interactions with other substances. Potential
product liability claims may exceed the amount of our insurance coverage or may
be excluded from coverage under the terms of the policy. We cannot be assured
that existing insurance can be renewed at a cost and level of coverage
comparable to that presently in effect, if at all. In the


                                       13


<PAGE>


event that we are held liable for a claim, against which we are not indemnified
or for damages exceeding the limits of our insurance coverage, such claim could
have a material adverse effect on our business, financial condition and results
of operations.

EMPLOYEES

As of December 31, 2000, we had a total of 871 full-time employees, of which 72
employees are located in the United States. In addition, we utilize the services
of a number of consultants specializing in research and development in our
targeted markets, regulatory compliance, strategic planning, marketing and legal
matters.


ITEM 2. DESCRIPTION OF PROPERTY

Our principal corporate administrative office, together with the administrative
office of our U.S. businesses, is currently housed in a 10,000 square feet
leased space in Waltham, Massachusetts, for a monthly rent of $8,333. By its
terms, the lease for this facility was to expire on December 31, 2001. However,
we received a notification for termination of the leasehold as of April 30, 2001
from our landlord at their option and have secured a new lease for a 20,614
square feet space located at 51 Sawyer Road, Waltham, Massachusetts, in March
2001. The new office lease commences on May 1, 2001 and expires on May 30, 2003.
The monthly lease payment of the new office space will be $73,867. We also lease
smaller facilities in Munich, Germany, and Brussels, Belgium, for offices and
warehouse space. We believe that these facilities are adequate for our
operations in the foreseeable future.

We have manufacturing operations in Scotland, Ireland and Israel. The facility
in Inverness, Scotland consists of 103,500 square feet and includes areas for
manufacturing, warehousing, research and development, and administrative offices
for the majority of our diabetes product line. We currently manufacture the ONE
TOUCH(R) FastTAKE(R) and the ONE TOUCH(R) Ultra strips and alternative blood
glucose strips at our Inverness facility. The Inverness facility lease expires
in 2019, with an option to purchase the facility at the higher of the fair
market value of the premises or approximately $8,212,000. Annual rent of the
Inverness facility amounts to approximately $1,045,000. Our facility in Galway,
Ireland consists of a 40,000 square foot space. We own half of the Galway
facility and lease the other half from a private developer under a lease that
expires in 2026. The Galway facility houses the manufacturing, warehousing and
research and development of our pregnancy detection and ovulation prediction
test products. Additionally, starting in February 2001, the Galway facility
performs certain packaging work for our diabetes business line. Aggregate annual
mortgage and lease payments for our Galway facility total approximately
$197,000.

The FDA regulates companies that manufacture commercial medical devices and
requires that such companies manufacture such devices in a properly designed
environment. Both our Inverness and Galway facilities are designed and
constructed to comply with the FDA's regulations and requirements necessary for
approvals and commercial sales within the United States. As required by the
regulations, we have registered both of these facilities with the FDA, ensuring
that they are in compliance prior to commercial sales in the United States. Each
registered facility is required to submit to an FDA inspection not less than
once every two years. The facility in Galway has maintained ISO 9002
certification since August 1996 and the Inverness facility has maintained ISO
9001 certification since May 1998.

Our newly acquired subsidiary, Integ, houses its administrative office and
research and development activities in a 42,000 square foot facility in St.
Paul, Minnesota. The annual lease payment for the Integ facility is $390,000 and
the lease expires in 2005. Integ is subletting 65% of its facility for the
remainder of its lease term. We believe that Integ's facility is adequate for
our foreseeable operations.

We house administrative offices, development and manufacturing operations of our
clinical diagnostics business subsidiary in a leased facility of approximately
10,000 square feet in Yavne, Israel. The lease for this facility expires in 2006
and carries rent of approximately $25,000 per month. The facility includes a
number of specialized features and equipment, including environmentally
controlled areas, customized production equipment, and computerized systems for
purchasing, inventory management and materials tracking. Our Israeli subsidiary
also maintains small sales offices in Paris, France, Sao Paulo, Brazil, and
Bogota, Columbia. We believe these facilities are adequate for our clinical
diagnostics business operations in the foreseeable future.


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We have insurance coverage for the properties and equipment that we own or
house.


ITEM 3. LEGAL PROCEEDINGS

ABBOTT LABORATORIES AND ABBOTT LABORATORIES, LIMITED V. LIFESCAN CANADA LTD.,
   LIFESCAN, INC. AND SELFCARE, INC.

On November 23, 1999, Abbott Laboratories and Abbott Laboratories, Limited
(Abbott) commenced a lawsuit against us, LifeScan Canada Ltd. (LifeScan Canada)
and LifeScan in the Canadian Federal Court, Trial Division, Court No. T-2061-99.
The statement of claim alleges that LifeScan Canada sells electrode strips for
use in the FastTAKE(R) blood glucose monitoring system we supply to LifeScan. It
is also alleged that the sale of such electrode strips in Canada infringes
Canadian Patent No. 1,226,036 issued to Genetics International, Inc., an alleged
predecessor in title of Abbott. Abbott is seeking an injunction against the
manufacture, importing, offering for sale and selling of FastTAKE(R) electrode
strips in Canada, as well as damages or the profits of the defendants arising
from the sales of such electrode strips in Canada. In our statement of defense
and counterclaim, we deny infringement and attack the validity of the patent on
a number of grounds. Abbott has not filed a defense to our counterclaim, and the
parties have not yet commenced documentary discovery. At this stage of the
litigation, it is not possible to predict the outcome of the action. A final
ruling adverse to us could involve us being prevented from selling our
FastTAKE(R) electrode strips in Canada and could include us paying to Abbott
either an amount equal to the profit generated from all sales of FastTAKE(R)
electrode strips in Canada or Abbott's damages.

ABBOTT LABORATORIES ET ALS  V. CORBRIDGE GROUP PTY LTD AND SELFCARE PTY LTD.

In November 1999, Abbott commenced a lawsuit against our Australian subsidiary,
Selfcare Pty Ltd. and Corbridge, its Australian distributor, in the Federal
Court of Australia. The complaint alleged that the Selfcare(R) Excel(R) ET
disposable test strips (ET Test Strips) we supply to Corbridge infringe
Australian Patent No. 572,138 (the Australian Test Strip Patent) issued to
Abbott's predecessor in title on May 5, 1988 (and assigned to Abbott only a few
weeks prior to commencement of the proceedings). The ET Test Strips are marketed
in Australia for use with Abbott's ExacTech(R) brand sensor device. Abbott is
seeking damages and an injunction against supply of these test strips in
Australia. Abbott also sought to enjoin the defendants from the importation and
supply of these test strips in Australia during the pendency of the infringement
litigation. On November 24, 2000 the court dismissed Abbott's lawsuit, but
Abbott lodged an appeal and also applied to amend the Australian Test Strip
Patent so as to claim products that fit the description of the ET Test Strips.
The court has directed that the amendment application be heard before the appeal
is entertained and on February 5, 2001 ordered a timetable for Abbott to give
discovery. It is unlikely that any ruling against the Australian defendants
could have an adverse impact on our sales, operations or financial performance
elsewhere in the world. We continue to believe that the ET Test Strips do not
infringe the Australian Test Strip Patent and that the dismissal of Abbott's
claims will be upheld on appeal. Furthermore, the Australian defendants
counterclaimed against Abbott seeking revocation of the Australian Test Strip
Patent as well as damages and injunctive relief for breaches of Australian
antitrust law and misleading conduct prohibitions. The court has adjourned
hearing of the antitrust counterclaim and has reserved judgment on the
misleading conduct and revocation aspects of our counterclaims. We continue to
believe that our counterclaims have good prospects of success and that, under
Australian law, Abbott will be required to pay a large portion of our legal
costs incurred in the proceedings.

ABBOTT LABORATORIES V. LIFESCAN, INC. AND SELFCARE, INC.

In late October 1998, Abbott commenced a lawsuit against us and LifeScan in the
United States District Court for the District of Massachusetts. The complaint
alleges that the disposable test strips used in the FastTAKE(R) blood glucose
monitoring system we supply to LifeScan infringe U.S. Patent No. 5,820,551 (the
Test Strip Patent) issued to Abbott on October 13, 1998. Abbott is seeking
damages and an injunction against sales in


                                       15


<PAGE>


the United States. Abbott also sought to enjoin LifeScan and us from the
manufacture, use and sale of these blood glucose test strips in the United
States during the pendency of the infringement litigation. On February 22, 1999,
the court denied Abbott's motion for a preliminary injunction and stated
"...that Abbott is unlikely to succeed on the merits of its claim of patent
infringement..." Discovery in the case is continuing. Although a final ruling
against us could have a material adverse impact on our sales, operations or
financial performance, based on a review of the Abbott claims by outside patent
counsel and the aforementioned court ruling, we believe that our FastTAKE(R)
test strips do not infringe the Test Strip Patent and that Abbott's claims will
be proven to be without merit.

ABBOTT LABORATORIES V. SELFCARE, INC. AND PRINCETON BIOMEDITECH CORPORATION

In April 1998, Abbott commenced a lawsuit against us and Princeton BioMeditech
Corporation (PBM), which manufactured certain products for us, in an action
filed in the United States District Court for the District of Massachusetts
(District Court), asserting patent infringement arising from our and PBM's
manufacture, use and sale of products that Abbott claims are covered by one or
more of the claims of U.S. Patent Nos. 5,073,484 and 5,654,162 (the Pregnancy
Test Patents), to which Abbott asserts that it is the exclusive licensee. Abbott
claims that certain of our products relating to pregnancy detection and
ovulation prediction infringe the Pregnancy Test Patents. Abbott is seeking an
order finding that we and PBM infringe the Pregnancy Test Patents, an order
permanently enjoining us and PBM from infringing the Pregnancy Test Patents,
compensatory damages to be determined at trial, treble damages, costs,
prejudgment and post-judgment interest on Abbott's compensatory damages,
attorneys' fees, and a recall of all of our existing products found to infringe
the Pregnancy Test Patents. On August 5, 1998, the court denied Abbott's motion
for a preliminary injunction. On March 31, 1999, the District Court granted a
motion by us, PBM, and PBM-Selfcare LLC (the LLC), the joint venture between the
two companies, filed to amend our counterclaim against Abbott, asserting that
Abbott is infringing U.S. Patent Nos. 5,559,041 (the 041 patent) and 5,728,587
(the 587 patent), which are owned by the LLC, and seeking a declaration that
Abbott infringes the patents and that we are entitled to permanent injunctive
relief, money damages and attorneys' fees. On November 5, 1998, Abbott filed
suit in the United States District Court for the Northern District of Illinois
seeking a declaratory judgment of non-infringement, unenforceability and
invalidity of the 041 patent and the 587 patent. The Illinois court granted our
motion to transfer the aforementioned Illinois action to Massachusetts. We and
our co-defendant moved for summary judgment on our defense that the Abbott
patents are invalid, and on September 29, 2000, the court granted partial
summary judgment, holding that certain key claims in Abbott's patents are
invalid as a matter of law. The court refused to grant summary judgment on
Abbott's claims of infringement or our remaining claims of invalidity, which
will now go forward to trial. We believe that we have strong defenses against
Abbott's claims and will continue to defend the case vigorously; however, a
final ruling against us would have a material adverse impact on our sales,
operations or financial performance.

BECTON, DICKINSON AND COMPANY V. SELFCARE, INC. ET. AL.

On January 3, 2000, Becton, Dickinson and Company (Becton Dickinson) filed suit
against us in the U.S. District Court for the District of Delaware (Case No:
00-001) alleging that certain pregnancy and ovulation test kits we sold infringe
U.S. Patent Nos. 4,703,017 and 5,591,645. We were served with Becton Dickinson's
complaint in April 2000 and filed our answer on May 30, 2000. Because both
patents are currently involved in proceedings before the patent office, we have
moved to stay the litigation until those proceedings are complete. That motion
is pending without decision. While a final ruling against us could have a
material adverse impact on our sales, operations or financial performance, we
believe that we have strong defenses and intend to defend this litigation
vigorously.

CAMBRIDGE BIOTECH CORPORATION AND CAMBRIDGE AFFILIATE CORPORATION V. RON
   ZWANZIGER, SELFCARE, INC., CAMBRIDGE DIAGNOSTICS IRELAND, LTD., TRINITY
   BIOTECH, PLC AND PASTEUR SANOFI DIAGNOSTICS

On January 22, 1999, Cambridge Biotech Corporation (CBC) and Cambridge Affiliate
Corporation (CAC) filed suit (Civil Action No. 99-378) in the Middlesex County
Massachusetts Superior Court against us, our president, Ron Zwanziger, our
subsidiary in Ireland, Cambridge Diagnostics Ireland, Ltd. (Cambridge
Diagnostics), Trinity Biotech plc (Trinity) and Pasteur Sanofi Diagnostics
(Pasteur). The complaint alleges, among other things, that actions taken by Mr.
Zwanziger as president of CAC in connection with the sale by


                                       16


<PAGE>


Cambridge Diagnostics of its diagnostics business to Trinity were not properly
authorized and that, as a result of the actions, CBC may lose the benefit of
valuable patent licenses from Pasteur. CBC's requested relief is to have the
CAC/Trinity manufacturing and sales agreements declared null and void, the
license between Pasteur and CBC declared to be in full force, to recover damages
allegedly caused by us and Mr. Zwanziger, and to recover damages due to
Pasteur's actions. CBC moved for a preliminary injunction, seeking to enjoin us,
Cambridge Diagnostics, Mr. Zwanziger, and Trinity from acting pursuant to the
CAC/Trinity agreements and to enjoin Pasteur from terminating its license
agreements with CBC. Following a hearing on January 25, 1999, the Court denied
CBC's motion. Thereafter, Pasteur successfully moved for dismissal on grounds
that the issues between it and CBC should be litigated in France. Trinity has
moved for dismissal on grounds that the issues between it and CBC should be
litigated in Ireland or, in the alternative, should be arbitrated. The Court
denied Trinity's motion. The parties are currently conducting discovery. We
believe that CBC's complaint against us, Mr. Zwanziger, and Cambridge
Diagnostics is without merit and we intend to defend the action vigorously. We
have filed an answer denying the material allegations of the complaint along
with a counterclaim to declare our actions lawful and valid and to redress harm
that may result if the court invalidates the sale of Cambridge Diagnostics'
diagnostics business to Trinity, despite CBC's representations to us that we had
the right to make such a sale. We do not believe that an adverse outcome would
have a material impact on our sales, operations or financial performance.

INTERVENTION, INC V. SELFCARE, INC. AND COMPANION CASES

In May 1999, Intervention, Inc., a California corporation, filed separate suits
in California Contra Costa County Superior Court against us, four of our private
label customers and our major competitors and their private label customers
alleging that, under Section 17200 of the California Business and Professions
Code, the defendants' labeling on their home pregnancy tests is misleading as to
the level of accuracy under certain conditions. The plaintiff seeks restitution
of profits on behalf of the general public, injunctive relief and attorneys'
fees. We are defending our private label customers under agreement and believe
that the actions are without merit and intends to defend them vigorously. We do
not believe that an adverse ruling against us or our private label customers
would have a material adverse impact on our sales, operations or financial
performance.

INVERNESS MEDICAL TECHNOLOGY, INC. V. NOVA BIOMEDICAL CORPORATION

In August 2000, we brought a claim before the American Arbitration Association
in Boston, Massachusetts, against NOVA Biomedical Corp. (NOVA) asserting
overcharges by NOVA under our 1996 Manufacturing Agreement. NOVA has brought a
counterclaim for unpaid invoices in the amount of approximately $732,000 and is
seeking additional relief and sums concerning future activities. The amount of
overcharges we are seeking to recover from NOVA has yet to be determined, but is
expected to be in excess of NOVA's counterclaim. Discovery is currently in
progress. We do not believe that a final ruling against us could have a material
adverse impact on our sales, operations or financial performance.

MATSUSHITA ELECTRIC INDUSTRIAL CO., LTD. V. SELFCARE, INC., INVERNESS MEDICAL,
   INC. AND CAN-AM CARE CORPORATION

On March 2, 2000, Matsushita Electric Industrial Co., Ltd. (Matsushita) filed
suit (Case Number 00-143) in the United States District Court for the District
of Delaware against us and two of our subsidiaries. The complaint alleges patent
infringement of a patent used in connection with the manufacture and
distribution of our Excel(R) G test strips for use with the Bayer Glucometer(R)
Elite(R). We intend to defend the action vigorously. Although a final ruling
against us could have a material adverse impact on our sales, operations or
financial performance, based on a review of the Matsushita patent by our outside
patent counsel, we believe that our Excel(R) G test strips do not infringe the
Matsushita Patent.

ROCHE DIAGNOSTICS CORPORATION V. SELFCARE, INC. D/B/A INVERNESS MEDICAL
   TECHNOLOGY, INC. ET. ALS.

On July 6, 2000, we were served with a complaint filed in the federal district
court in Indianapolis, Indiana, by Roche Diagnostics Corporation against us and
several of our subsidiaries for patent infringement. The complaint alleges that
the Excel(R) G blood glucose test strips designed for use with test meters
marketed by


                                       17


<PAGE>


Bayer Corporation infringe a United States patent owned by Roche. We believe
that the Excel(R) G strips do not infringe the patent at issue but, because the
case was only recently filed, have not yet completed our testing and analysis. A
final ruling against us could have a material adverse impact on our sales,
operations or financial performance.

Because of the nature of our business, we may be subject at any particular time
to consumer product claims or various other lawsuits arising in the ordinary
course of our business, including employment matters, and expect that this will
continue to be the case in the future. These lawsuits generally seek damages,
sometimes in substantial amounts, for personal injuries or other commercial or
employment claims. We believe that any adverse ruling in such lawsuits would not
have a material adverse effect on our sales, operations or financial
performance.


ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.


                                     PART II

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS

Our common stock is traded on the American Stock Exchange (AMEX) under the
symbol "IMA" (formerly, "SLF"). The following table sets forth, for the periods
indicated, the high and low closing sale prices of our common stock on AMEX.

<TABLE>
<CAPTION>
                                                       HIGH           LOW
<S>                                                  <C>            <C>
Year ended December 31, 2000
1st Quarter......................................    $10.2500       $ 3.4375
2nd Quarter......................................    $ 9.4375       $ 4.5000
3rd Quarter......................................    $21.3800       $ 8.5625
4th Quarter......................................    $40.2500       $17.3100
Year ended December 31, 1999
1st Quarter......................................    $ 5.5000       $ 2.0000
2nd Quarter......................................    $ 4.9375       $ 2.8750
3rd Quarter......................................    $ 3.5625       $ 2.3750
4th Quarter......................................    $ 4.3125       $ 2.5625
</TABLE>


On March 9, 2001, there were 396 holders of record of our common stock. The
closing price of our common stock on March 9, 2001 was $25.81.

We have never declared or paid any cash dividends on our common stock. We
currently intend to retain earnings to support our growth strategy and do not
anticipate paying cash dividends on our common stock in the foreseeable future.
Payment of future dividends, if any, on our common stock will be at the
discretion of our board of directors after taking into account various factors,
including our financial condition, operating results, current and anticipated
cash needs and plans for expansion.

RECENT SALES OF UNREGISTERED SECURITIES

We issued unregistered securities to certain private investors during 2000, as
described in our Quarterly Reports on Form 10-Q filed during 2000. We did not
issue any unregistered securities during the fourth quarter of 2000. No
underwriters or underwriting discounts or commissions were involved. There was
no public offering in any such transaction and we believe that each transaction
was exempt from the registration requirements of the Securities Act of 1933, as
amended.


                                       18


<PAGE>


ITEM 6. SELECTED FINANCIAL DATA

The information set forth under the caption "Selected Financial Data" included
in our 2000 Annual Report to Shareholders (portions of which are filed herewith
as Exhibit 13.1) is incorporated by reference.


ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

The information set forth under the caption "Management's Discussion and
Analysis of Financial Condition and Results of Operations" included in our 2000
Annual Report to Shareholders (portions of which are filed herewith as Exhibit
13.1) is incorporated herein by reference.


ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The information set forth under the subcaption "Quantitative and Qualitative
Disclosures about Market Risks" contained under the caption "Management's
Discussion and Analysis of Financial Condition and Results of Operations"
included in our 2000 Annual Report to Shareholders (portions of which are filed
herewith as Exhibit 13.1) is incorporated herein by reference.


ITEM 8. FINANCIAL STATEMENTS

Our consolidated financial statements included in our 2000 Annual Report to
Shareholders (portions of which are filed herewith as Exhibit 13.1) are
incorporated by reference.


ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
        FINANCIAL DISCLOSURE

None.


                                    PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The information regarding our directors, executive officers and significant
employees included in our definitive Proxy Statement to be filed pursuant to
Regulation 14A in connection with our 2001 Annual Meeting of Shareholders (the
Proxy Statement) is incorporated herein by reference.


ITEM 11. EXECUTIVE COMPENSATION

The information regarding executive compensation included in the Proxy Statement
is incorporated herein by reference.


                                       19


<PAGE>


ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT


The information regarding security ownership of certain beneficial owners and
management included in the Proxy Statement is incorporated herein by reference.


ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The information regarding certain relationships and related transactions
included in the Proxy Statement is incorporated herein by reference.


                                     PART IV

ITEM 14. EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

(a) 1. Financial Statements.

        The response to this portion of Item 14 is set forth under Item 8.

    2. Financial Statement Schedules.

        None.

    3. Exhibits.


        2.1     Agreement and Plan of Merger by and among Inverness Medical
                Technology, Inc., Terrier Acquisition Corp. and Integ
                Incorporated, dated October 3, 2000 (incorporated by reference
                to Exhibit 99.2 to the Company's current report on Form 8-K
                dated October 4, 2000)

        2.2     First Amendment to Agreement and Plan of Merger by and among
                Inverness Medical Technology, Inc., Terrier Acquisition Corp.
                and Integ Incorporated, dated October 16, 2000 (incorporated by
                reference to Exhibit 99.1 to the Company's amended current
                report on Form 8-K/A dated October 18, 2000)

        3.1     Amended and Restated Certificate of Incorporation (incorporated
                by reference to Exhibit 3.1 to the Company's registration
                statement on Form SB-2, No. 333-4830-NY)

        3.2     Amended and Restated By-laws (incorporated by reference to
                Exhibit 3.2 to the Company's registration statement on Form
                SB-2, No. 333-4830-NY)

        3.3     Certificate of Amendment to the Restated Certificate of
                Incorporation as filed with the Secretary of State of the State
                of Delaware May 20, 1999 (incorporated by reference to Exhibit
                4.1 to the Company's current report on Form 8-K dated May 20,
                1999)

        4.1     Specimen certificate for shares of Common Stock, par value
                $0.001 per share, of the Company (incorporated by reference to
                Exhibit 4.1 to the Company's Registration statement on Form
                SB-2, No. 333-4830-NY)

        9.1     Voting Agreement, dated May 13, 1996, by and among the
                stockholders of Selfcare, Inc. who are signatories thereto
                (incorporated by reference to Exhibit 9.1 to the Company's
                registration statement on Form SB-2, No. 333-4830-NY)

        9.2     Voting Agreement by and between Inverness Medical Technology,
                Inc. and certain shareholders of Integ Incorporated, dated
                October 3, 2000 (incorporated by reference to Exhibit 99.3 to
                the Company's current report on Form 8-K filed on October 4,
                2000)

        10.1    Amended and Restated Master Agreement, dated as of June 7, 1999,
                by and among Johnson & Johnson Development Corporation,
                LifeScan, Inc. and Selfcare, Inc. (incorporated by reference to
                Exhibit 10.1 to the Company's quarterly report on Form 10-Q for
                the quarter ended June 30, 1999)


                                       20


<PAGE>


        10.2    Amended and Restated Sales Distribution Agreement for Testing
                System for Glucose in Humans, dated as of June 7, 1999, between
                LifeScan, Inc. and Selfcare, Inc. (incorporated by reference to
                Exhibit 10.2 to the Company's quarterly report on Form 10-Q for
                the quarter ended June 30, 1999)

        10.3    Investment Agreement, dated as of November 10, 1995, by and
                between Johnson & Johnson and Selfcare, Inc. (incorporated by
                reference to Exhibit 10.4 to the Company's registration
                statement on Form SB-2, No. 333-4830-NY)

        10.4    Form of Patent License Agreements between the Company and
                Becton, Dickinson and Company dated September 1, 1998
                (incorporated by reference to Exhibits 10.1 and 10.2 to the
                Company's report on Form 10-Q for the period ending September,
                30, 1998)

        10.5    Guarantee of Selfcare, Inc., dated June 11, 1995, in favor of
                Highlands and Islands Enterprises (incorporated by reference to
                Exhibit 10.24 to the Company's registration statement on Form
                SB-2, No. 333-4830-NY)

        10.6    Guarantee of Selfcare, Inc., dated June 11, 1995, in favor of
                Inverness and Nairn Enterprise Company (incorporated by
                reference to Exhibit 10.25 to the Company's registration
                statement on Form SB-2, No. 333-4830-NY)

        10.7    Grant Agreement, dated February 21, 1992, among The Industrial
                Development Authority of Ireland, Cambridge Biotech Limited
                (Cambridge Diagnostics Ireland Limited) and Cambridge Biotech
                Corporation (incorporated by reference to Exhibit 10.28 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.8    Grant Agreement, dated October 2, 1992, among The Industrial
                Development Authority of Ireland, Cambridge Biotech Limited
                (Cambridge Diagnostics Ireland Limited) and Cambridge Biotech
                Corporation (incorporated by reference to Exhibit 10.29 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.9    Grant Agreement, dated December 5, 1995, among The Industrial
                Development Authority of Ireland, Cambridge Biotech Limited
                (Cambridge Diagnostics Ireland Limited) and Cambridge Biotech
                Corporation (incorporated by reference to Exhibit 10.30 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.10   Employment Agreement, dated October 15, 1991, between Superior
                Sensors, Inc. (Selfcare, Inc.) and Kenneth D. Legg, Ph.D.
                (incorporated by reference to Exhibit 10.31 to the Company's
                registration statement on Form SB-2, No. 333-4830-NY)

        10.11   Employment Agreement, dated November 13, 1994, between Selfcare
                International GmbH and Otto Wahl (incorporated by reference to
                Exhibit 10.33 to the Company's registration statement on Form
                SB-2, No. 333-4830-NY)

        10.12   Selfcare, Inc. 1992 Stock Plan (incorporated by reference to
                Exhibit 10.34 to the Company's registration statement on Form
                SB-2, No. 333-4830-NY)

        10.13   Selfcare, Inc. 1994 Incentive and Non-qualified Stock Option
                Plan (incorporated by reference to Exhibit 10.35 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.14   Selfcare, Inc. Amended and Restated 1996 Stock Option and Grant
                Plan (incorporated by reference to Exhibit 4.1 to the Company's
                registration statement on Form S-8, No. 333-15583)

        10.15   First Amendment to the Selfcare, Inc. Amended and Restated 1996
                Stock Option and Grant Plan dated May 20, 1999 (incorporated by
                reference to Exhibit 10.24 to the Company's 1999 annual report
                on Form 10-K)

        10.16   Inverness Medical Technology, Inc. Amended and Restated 2000
                Stock Option and Grant Plan dated July 3, 2000 (incorporated by
                reference to Exhibit 10.1 to the Company's quarterly report on
                Form 10-Q for the period ending September 30, 2000)

        10.17   Selfcare, Inc. Employee Stock Purchase Plan (incorporated by
                reference to Exhibit 10.37 to the Company's registration
                statement on Form SB-2, No. 333-4830-NY)

        10.18   Standard form Commercial Lease, dated July 15, 1992, between
                Superior Sensors, Inc. (Selfcare, Inc.) and Nova Realty
                Associates (incorporated by reference to Exhibit 10.38 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.19   First Amendment to Lease Agreement between Selfcare, Inc.
                (formerly, Superior Sensors, Inc.) and Nova Realty Associates
                dated August 9, 1999 (incorporated by reference to Exhibit 10.27
                to the Company's 1999 annual report on Form 10-K)


                                       21


<PAGE>


        10.20   Form of lease between Highlands and Islands Enterprises and
                Hebocraft Limited (Inverness Medical Limited) (incorporated by
                reference to Exhibit 10.40 to the Company's registration
                statement on Form SB-2, No. 333-4830-NY)

        10.21   Form of Cambridge Diagnostics Warrants, together with schedule
                of warrantholders (incorporated by reference to Exhibit 10.47 to
                the Company's registration statement on Form SB-2, No.
                333-4830-NY)

        10.22   Agreement between Inverness Medical Limited (formerly, Hebocraft
                Limited) and Highlands and Islands Enterprise, dated May 31,
                1995 (incorporated by reference to Exhibit 10.47 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.23   Agreement between Inverness Medical Limited (formerly, Hebocraft
                Limited) and Inverness & Nairn Local Enterprise Company, dated
                May 31, 1995 (incorporated by reference to Exhibit 10.48 to the
                Company's registration statement on Form SB-2, No. 333-4830-NY)

        10.24   Supply Agreement dated August 27, 1996, by and between Selfcare,
                Inc., Selfcare International GmbH and A. Menarini Industrie
                Parmaceutiche Riunite S.r.L. (incorporated by reference to
                Exhibit 10.50 to the Company's quarterly report on Form 10-QSB
                for the period ended September 30, 1996)

        10.25   Form of Amendment to Agreement between Selfcare, Inc. and
                Princeton BioMeditech Corporation dated August 6, 1997
                (incorporated by reference to the Company's report on Form
                10-QSB for the period ending September, 30, 1997)

        10.26   Form of Stock Purchase Agreement dated February 18, 1998, by and
                among Can-Am Care Corporation, Selfcare, Inc., Selfcare Consumer
                Products, Inc. (Inverness Medical, Inc.) and the stockholders of
                Can-Am Care Corporation (incorporated by reference to Exhibit
                2.1 to the Company's report on Form 8-K dated February 18, 1998)

        10.27   Form of Supply Agreement dated as of February 18, 1998, made by
                and between A.M.G. Medical Inc. and Can-Am Care Corporation
                (incorporated by reference to Exhibit 10.74 to the Company's
                Form 10-KSB for the year ended December 31, 1997)

        10.28   Form of Management Services Agreement dated February 18, 1998,
                made by and between A.M.G. Medical Inc. and Can-Am Care
                Corporation (incorporated by reference to Exhibit 10.75 to the
                Company's Form 10-KSB for the year ended December 31, 1997)

        10.29   Form of Employment Agreement dated February 18, 1998, made by
                and between Selfcare Consumer Products, Inc. (Inverness Medical,
                Inc.), Selfcare, Inc., and Herbert Cover Corporation
                (incorporated by reference to Exhibit 10.76 to the Company's
                Form 10-KSB for the year ended December 31, 1997)

        10.30   Form of Employment Agreement dated February 18, 1998, made by
                and between Selfcare Consumer Products, Inc. (Inverness Medical,
                Inc.), Selfcare, Inc., and Robert Oringer (incorporated by
                reference to Exhibit 10.77 to the Company's Form 10-KSB for the
                year ended December 31, 1997)

        10.31   Form of 6% Non-Negotiable Promissory Note, principal amount
                $500,000, dated February 18, 1998, between Selfcare, Inc. and
                Robert Oringer (incorporated by reference to Exhibit 10.78 to
                the Company's Form 10-KSB for the year ended December 31, 1997)

        10.32   Form of 6% Non-Negotiable Promissory Note, principal amount
                $500,000, dated February 18, 1998, between Selfcare, Inc. and
                Cover Family Trust (incorporated by reference to Exhibit 10.79
                to the Company's Form 10-KSB for the year ended December 31,
                1997)

        10.33   Form of Credit Agreement dated as of February 18, 1998, among
                Selfcare Consumer Products, Inc. (Inverness Medical, Inc.), as
                the Borrower, Selfcare, Inc., as the Guarantor, Certain
                Financial Institutions, as the Lenders, and The Chase Manhattan
                Bank, as the Agent for the Lenders (incorporated by reference to
                Exhibit 10.80 to the Company's Form 10-KSB for the year ended
                December 31, 1997)

        10.34   Form of Warrant to Purchase Shares of Common Stock of the
                Company issued in connection with the Securities Purchase
                Agreement dated June 26, 1998 (incorporated by reference to
                Exhibit 10.2 to the Company's report on Form 10-Q for the period
                ending June 30, 1998)

        *10.35  Form of Securities Purchase Agreement dated June 26, 2000, among
                Inverness Medical Technology, Inc., certain named purchasers,
                and certain other parties


                                       22


<PAGE>


        *10.36  Form of 12.5% Subordinated Note issued by the Company in
                connection with the Securities Purchase Agreement dated June 26,
                2000

        *10.37  Form of Warrant to Purchase Shares of Common Stock of the
                Company issued in connection with the Securities Purchase
                Agreement dated June 26, 2000

        +10.38  Development and License Agreement between DEBIOTECH, S.A. and
                Inverness Medical Technology, Inc. dated October 14, 2000

        11.1    Statement regarding computation of per share earnings (included
                in the "Notes to Consolidated Financial Statements" in the
                Company's 2000 Annual Report to Shareholders, portions of which
                are filed herewith as Exhibit 13.1)

        *13.1   Consolidated Financial Information of the Company's 2000 Annual
                Report to Shareholders (only those portions of the Annual Report
                incorporated by reference in this document are deemed filed)

        13.2    Report of Independent Public Accountants, Arthur Andersen LLP
                (included in the Company's 2000 Annual Report to Shareholders,
                portions of which are filed herewith as Exhibit 13.1)

        *21.1   List of Subsidiaries of Registrant as of March 30, 2001

        *23.1   Consent of Arthur Andersen LLP

        ----------------
        * Filed herewith
        + Filed herewith; portions of this exhibit have been omitted pursuant
          to a request for confidential treatment.


(b)  We filed a current report on Form 8-K on October 6, 2000 and an amended
     current report on Form 8-K/A thereto on October 18, 2000 in connection with
     our Company entering into a definitive agreement to acquire Integ
     Incorporated.

     We filed a current report on Form 8-K on November 1, 2000 and an amended
     current report on Form 8-K/A thereto on November 21, 2000 in connection
     with our follow-on public offering of common stock to report the Integ
     Incorporated financial statements for the years ended December 31, 1999,
     1998 and 1997 and the nine-month period ended September 30, 2000 and our
     unaudited pro-forma combined condensed financial statements for such
     nine-month period.

     We filed a current report on Form 8-K on December 4, 2000 in connection
     with our follow-on public offering of common stock to report separately the
     sections "Business" and "Management's Discussion and Analysis of Financial
     Condition and Results of Operations" which were included in our
     Registration Statement on Form S-3 filed on November 21, 2000.


                                       23


<PAGE>



                                   SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.

                                        INVERNESS MEDICAL TECHNOLOGY, INC.



Date: March 30, 2001                    By:      /s/ Ron Zwanziger
                                        ----------------------------------------
                                                    Ron Zwanziger
                                               CHAIRMAN, PRESIDENT AND
                                               CHIEF EXECUTIVE OFFICER

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the Registrant and
in the capacities and on the dates indicated.

<TABLE>
<CAPTION>
              SIGNATURE                                    TITLE                              DATE
              ---------                                    -----                              ----
<S>                                    <C>                                               <C>
          /s/ Ron Zwanziger            President, Chief Executive Officer and            March 30, 2001
---------------------------------------   Director (Principal Executive Officer)
            Ron Zwanziger



          /s/ Duane L. James           Vice President of Finance and Treasurer           March 30, 2001
---------------------------------------   (Principal Financial Officer)
            Duane L. James



        /s/ Carol R. Goldberg          Director                                          March 30, 2001
---------------------------------------
          Carol R. Goldberg



           /s/ John F. Levy            Director                                          March 30, 2001
---------------------------------------
             John F. Levy



     /s/ Ernest A. Carabillo, Jr.      Director                                          March 30, 2001
---------------------------------------
       Ernest A. Carabillo, Jr.



          /s/ Peter Townsend           Director                                          March 30, 2001
---------------------------------------
            Peter Townsend



        /s/ Willard L. Umphrey         Director                                          March 30, 2001
---------------------------------------
          Willard L. Umphrey
</TABLE>





                                       24