Coppersmith, founded by former partners of now-liquidated activist fund MMI Investments, has already said publicly that Alere should sell or close its struggling health management business, which it had built up through acquisitions worth $1.8 billion - with $1.4 billion of that amount already written off. A representative for Coppersmith declined to comment. Alere's toxicology business offers drug testing products and services to hospitals, clinics, law enforcement agencies and rehabilitation centers and helps them detect drug or alcohol abuse. Larger rivals Quest Diagnostics Inc and Laboratory Corporation of America Holdings also make drug-testing products and services. Alere itself toyed with the idea of selling the unit in the past. Chief Executive Ron Zwanziger said at the JPMorgan healthcare conference in January 2011 that the company had a "fair amount of debt" on the balance sheet and could opt to sell the toxicology business if needed to pay down debt.