Quidel's Diagnostic Success Pays Off with Major M&A
Quidel made a huge investment to strengthen its prowess in the in vitro diagnostics market. The San Diego, CA-based company said it has signed an agreement to acquire Ortho Clinical Diagnostics Holdings for $6 billion.
The deal is expected to close in the first half of fiscal year 2022.
“The combination with Ortho will help solidify Quidel as a leader in the diagnostics industry, bringing together innovative, complementary products, solutions, and services that enhance the health and well-being of patients across the globe,” said Douglas Bryant, President and Chief Executive Officer of Quidel, who will serve as Chairman and CEO of the combined company. “Establishing a stronger leadership position, we expect the combined company will emerge as a global player with top-tier R&D capabilities, a more diverse product pipeline, and broader geographic footprint. Importantly, our complementary cultures are underpinned by a commitment to our customers, patients, and the communities we serve, reinforcing our confidence in the long-term value creation of this transaction. We are impressed by what Ortho has accomplished for patients. We look forward to joining together to continue the strong patient focus that is core to our mission, creating an organization with a shared goal of discovering, developing, and delivering innovative solutions to our customers.”
Article source: Qmed and MD+DI