Quidel Corporation said it has entered into an agreement to acquire Ortho Clinical Diagnostics Holdings for $24.68 per share of common stock using a combination of cash and newly issued shares in the combined company.
This represents a 25% premium over Ortho’s closing price on December 22, 2021, and an equity value of approximately $6.0 billion, according to Quidel. 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, President and Chief Executive Officer of Quidel, who will serve as Chairman and Chief Executive Officer of the combined company.
Quidel said it expects the transaction “to accelerate an innovative pipeline and milestone execution through complementary capabilities and product development synergies.”
