SAN DIEGO–(BUSINESS WIRE)–QuidelOrtho Corporation announced completion of the transaction combining Quidel Corporation and Ortho Clinical Diagnostics Holdings, creating QuidelOrtho, a leading in vitro diagnostics company. The new company, headquartered in San Diego, California, generated more than $3.5 billion in combined revenues in 2021 and has approximately 6,000 employees. QuidelOrtho will trade on the Nasdaq Global Select Market under the symbol “QDEL.”
“We are very excited to bring together the talented and experienced teams of both Quidel and Ortho who share a commitment to the employees, customers, patients, and the communities we serve,” said Douglas Bryant, Chairman and Chief Executive Officer of QuidelOrtho. “There is a lot of important work ahead of us to deliver on our targeted synergies and new product introductions and we are energized and poised to excel in our combined mission to deliver advanced diagnostics to improve human health. We look forward to executing on our growth strategy as QuidelOrtho and enhancing care across the testing continuum while driving long-term value creation for our stockholders.”
Under the terms of the agreement governing the transaction, former Ortho shareholders received $7.14 in cash and 0.1055 shares of QuidelOrtho common stock for each Ortho common share. Former Quidel stockholders received one share of QuidelOrtho common stock for each share of Quidel common stock. The QuidelOrtho board is composed of 8 former Quidel board members and 4 former Ortho board members.
QuidelOrtho to Present at Upcoming Investor Conference
Members of the QuidelOrtho management team, including Douglas Bryant, Chairman and Chief Executive Officer, and Joseph Busky, Chief Financial Officer, are scheduled to participate in the William Blair 42nd Annual Growth Stock Conference in Chicago on June 8, 2022, with a presentation scheduled for 8:00 a.m. Central Standard Time.
Interested parties can access a live webcast and replay of the presentation on the “Investors” page of QuidelOrtho’s website at https://ir.quidelortho.com/, under the “Events Calendar” section of the page, or by clicking on the following link: https://wsw.com/webcast/blair66/qdel/1921284
Participants should allow approximately five to ten minutes prior to the presentation’s start time to visit the site and download any streaming media software needed to listen to the Internet webcast. A replay of the webcast will also be available on the company’s website for 14 days.
About QuidelOrtho Corporation
QuidelOrtho Corporation (Nasdaq: QDEL) unites the power of Quidel Corporation and Ortho Clinical Diagnostics behind a shared mission of developing and manufacturing innovative technologies that raise the performance of diagnostic testing and create better patient outcomes across the entire healthcare continuum.
Ranked among the world’s largest in vitro diagnostics (IVD) providers with more than 120 years of collective experience, we combine industry-leading expertise in immunoassay and molecular testing with a global footprint in clinical labs and transfusion medicine.
Our company’s comprehensive product portfolio delivers accuracy, speed, automation and access, providing critical information when and where it is needed most. Inspired by a spirit of service, the QuidelOrtho family is committed to enhancing the wellbeing of people worldwide and happy in the knowledge we are making a difference.