Quidel Corp. (NASDAQ: QDEL) has acquired Ortho Clinical Diagnostics, a vitro diagnostics company, for $24.68 per share of common stock for a total equity value of $6 billion.
The deal will combine two technology platforms to benefit customers with expanded access to clinical chemistry, immunoassay, molecular diagnostics, immunohematology, donor screening and more. The combined firm will meet patient testing needs across reference labs, hospitals, physician offices, urgent care centers and retail locations.
“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,” said Chris Smith, chairman and CEO of Ortho. “Together, we will continue to advance life-changing diagnostic solutions to improve patient outcomes and deliver economic benefits to the healthcare system.”
Quidel’s financial advisors in connection with this acquisition are Perella Weinberg Partners LP and Citi, and its legal advisor is Gibson, Dunn & Crutcher LLP. Ortho’s exclusive financial advisor is J.P. Morgan Securities LLC, and its legal advisor is Latham & Watkins LLP.