Dec. 27, 2021—Quidel and Ortho Clinical Diagnostics have entered into a definitive agreement in which Quidel will acquire Ortho for $24.68 per share of common stock for a total consideration of about $6 billion. The transaction is expected to close during the first half of fiscal year 2022, subject to customary closing conditions.
“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,” Chris Smith, chairman and CEO of Ortho, said in a joint press statement. “Together, we will continue to advance life-changing diagnostic solutions to improve patient outcomes and deliver economic benefits to the health care system.”
The combined organization will unite technologies and platforms to benefit customers with expanded access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening, and point-of-care diagnostics offerings and will meet patient testing needs at reference labs, hospitals, physicians’ offices, urgent care centers, and at-home and retail locations.
Quidel’s president and chief executive officer, Douglas Bryant, will serve as chairman and chief executive officer of the combined company. The transaction, which is subject to approval by both companies’ shareholders as well as customary closing conditions and regulatory approvals, is expected to close in the first half of 2022.