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Quidel Corporation Completes Acquisition of Urine Test Strip Business; Acquisition Expands Point-of-Care Diagnostic Products
SAN DIEGO, Dec. 8 /PRNewswire/ -- Quidel Corporation (Nasdaq: QDEL) announced today that it has completed its acquisition of the assets of the Rapignost(R) Urine Test Strip business from Dade Behring Corporation.
"Urinalysis tests are important tools for the physician's overall assessment of patient health and will complement Quidel's existing point-of-care business," said Andre de Bruin, vice chairman, president and chief executive officer of Quidel Corporation. "The addition of this product line is expected to contribute to our near-term revenue and profit growth because it can be included within our existing sales and distribution structure."
Quidel Corporation discovers, develops, manufactures and markets point-of-care, rapid diagnostic tests for detection of medical conditions and illnesses. These products provide accurate, rapid and cost-effective diagnostic information for acute and chronic conditions that affect women's health throughout the phases of their lives including reproductive status, pregnancy management and osteoporosis. Quidel also provides point-of-care diagnostics for infectious diseases, including influenza A and B, strep throat, H. pylori infection, chlamydia and infectious mononucleosis. Quidel's products are sold to healthcare professionals for use in physician's offices, clinical laboratories and pharmacies, and to consumers through organizations that provide private label, store brand products. These tests provide diagnostic information to enable rapid treatment and improve health outcomes, lower costs, and increase patient satisfaction.
This press release contains forward-looking statements regarding Quidel, its products and its future activities within the meaning of the federal securities laws. These forward-looking statements involve material risks and uncertainties. Many possible factors could affect the future results and performance of Quidel's products, such that actual results and performance may differ materially. If Quidel's products fail to perform as expected, or if there is lower consumer demand for these products than expected, Quidel's financial condition and operating results may be materially and adversely affected. Quidel's financial condition and operating results may also be materially and adversely affected by a number of other factors, including, without limitation, seasonality, adverse changes in competitive and economic conditions, actions by the Company's distributors, manufacturing and production delays or difficulties and adverse actions or delays in product reviews by the FDA. Please see the discussion of these and other factors in Quidel's annual reports on Form 10-K and subsequent quarterly reports on Form 10-Q. For more information, please visit Quidel's web site at http://www.quidel.com.
Charles J. Cashion, Chief Financial Officer, 858-552-7962,
or Christa Cerciello, Investor Relations, 858-646-8031,
both of Quidel Corporation