Sam Brusco, Associate Editor12.23.21
Quidel began an agreement to acquire Ortho Clinical Diagnsotics (Ortho) for $24.68 a share of common stock, valuing the deal at about $6 billion. The transaction is expected to close during 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, Quidel president and CEO, who will serve as Chairman and CEO of the combined company, told the press. “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.”
“Quidel shares our commitment to customers and passion for the patients we serve,” added Chris Smith, Chairman CEO of Ortho. “By bringing together Quidel’s point-of-care diagnostics with Ortho’s vast global reach, there is a substantial opportunity to capitalize on the cross-selling opportunities, move into attractive adjacent markets, and accelerate innovative product expansion and the development of molecular technologies. Together, we will continue to advance life-changing diagnostic solutions to improve patient outcomes and deliver economic benefits to the healthcare system.”
The combined company will expand customer access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics in reference labs, hospitals, physicians’ offices, urgent care center, and home/retail locations. Further, Quidel’s expansive point-of-care diagnostics portfolio will be granted access to Ortho’s global reach across 130-plus countries.
“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, Quidel president and CEO, who will serve as Chairman and CEO of the combined company, told the press. “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.”
“Quidel shares our commitment to customers and passion for the patients we serve,” added Chris Smith, Chairman CEO of Ortho. “By bringing together Quidel’s point-of-care diagnostics with Ortho’s vast global reach, there is a substantial opportunity to capitalize on the cross-selling opportunities, move into attractive adjacent markets, and accelerate innovative product expansion and the development of molecular technologies. Together, we will continue to advance life-changing diagnostic solutions to improve patient outcomes and deliver economic benefits to the healthcare system.”
The combined company will expand customer access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics in reference labs, hospitals, physicians’ offices, urgent care center, and home/retail locations. Further, Quidel’s expansive point-of-care diagnostics portfolio will be granted access to Ortho’s global reach across 130-plus countries.