QuidelOrtho Corporation has completed the acquisition of LEX Diagnostics for cash consideration of approximately $100 million following the U.S. Food and Drug Administration (FDA) 510(k) clearance and CLIA waiver of the LEX VELO earlier this year, according to an announcement.
The LEX VELO System is a breakthrough molecular diagnostics platform that is designed to deliver highly sensitive, multiplex RT-PCR testing for Influenza A, Influenza B and COVID-19 directly from a swab sample in approximately six to ten minutes. Its proprietary cartridge-based design supports rapid clinical decision-making in decentralized care environments by eliminating the need for external liquid handling; delivering speed, reliability and ease of use.
QuidelOrtho expects to initiate the U.S. commercial launch of the LEX VELO System later this year. Global expansion is expected to follow, subject to local regulatory approvals.
