FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * CASEY MICHAEL D   2. Issuer Name and Ticker or Trading Symbol CHOLESTECH CORPORATION [CTEC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 3347 INVESTMENT BLVD. 3. Date of Earliest Transaction (Month/Day/Year) 09/12/2007 (Street) HAYWARD, CA 94545 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/12/2007 09/12/2007 D   5,000 D (1) 0 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Right to Buy (Employee Stock Option)

$ 12.5

09/12/2007

09/12/2007

D

10,000

(2)

08/14/2012

Common Stock

10,000

$ 0

0

D

Right to Buy (Employee Stock Option)

$ 7.32

09/12/2007

09/12/2007

D

10,000

(3)

08/18/2011

Common Stock

10,000

$ 0

0

D

Right to Buy (Employee Stock Option)

$ 10.75

09/12/2007

09/12/2007

D

10,000

(4)

08/17/2012

Common Stock

10,000

$ 0

0

D

Right to Buy (Employee Stock Option )

$ 10.94

09/12/2007

09/12/2007

D

10,000

(5)

08/16/2013

Common Stock

10,000

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CASEY MICHAEL D 3347 INVESTMENT BLVD. HAYWARD, CA 94545	X

Signatures

John F. Glenn, Atty-in-Fact for Michael D. Casey		09/13/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Disposed of pursuant to a merger agreement between the issuer, Inverness Medical Innovations, Inc. ("IMA") and Iris Merger Sub, Inc. in exchange for 2,182 shares of IMA Common Stock having a market value of $48.56 per share on the effective date of the merger, and $4.86 representing fractional shares as provided in the merger agreement.
(2)	This option provided for vesting over 4 years. Upon effectiveness of the merger, this option was exchanged for an option to purchase 4,364 shares of IMA Common Stock with an exercise price of $28.65 per share.
(3)	This option provided for vesting over 4 years. Upon effectiveness of the merger, this option was exchanged for an option to purchase 4,364 shares of IMA Common Stock with an exercise price of $16.78 per share.
(4)	This option provided for vesting over 4 years. Upon effectiveness of the merger, this option was exchanged for an option to purchase 4,364 shares of IMA Common Stock with an exercise price of $24.64 per share.
(5)	This option provided for vesting over 4 years. Upon effectiveness of the merger, this option was exchanged for an option to purchase 4,364 shares of IMA Common Stock with an exercise price of $25.07 per share.

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