SAN DIEGO--(BUSINESS WIRE)--Oct. 6, 2017--
Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid
diagnostic testing solutions, cellular-based virology assays and
molecular diagnostic systems, announced that it has closed its
previously announced acquisition of the Triage® MeterPro cardiovascular
(CV) and toxicology business (“Triage business”), and B-type Naturietic
Peptide (BNP) assay business run on Beckman Coulter analyzers (“BNP
business”) from Alere Inc.
On July 17, 2017, and subsequently on September 18, 2017 through revised
asset purchase agreements, Quidel announced its intent to acquire the
Triage business and BNP business from Alere Inc., including the real
estate in San Diego for the Triage facilities, for a total cash
consideration of up to $680 million, comprised of a $400 million
purchase price for the Triage business, as well as $280 million in
deferred consideration for the BNP business.
“This strategic acquisition extends Quidel’s market leadership, adding
an extensive cardiovascular and toxicology POC offering to our
innovative medical diagnostics portfolio, as well as direct commercial
responsibility for the BNP assay business globally,” stated Douglas
Bryant, president and chief executive officer of Quidel Corporation. “We
believe there are substantial benefits to be realized as we bring these
strong organizations together, further establishing Quidel’s platform
for growth and creating additional shareholder value opportunities.”
About Quidel Corporation
Quidel Corporation serves to enhance the health and well-being of people
around the globe through the development of diagnostic solutions that
can lead to improved patient outcomes and provide economic benefits to
the healthcare system. Marketed under the Sofia®, QuickVue®, D3® Direct
Detection, Thyretain® and InflammaDry® leading brand names, as well as
under the new Solana®, AmpliVue® and Lyra® molecular diagnostic brands,
Quidel’s products aid in the detection and diagnosis of many critical
diseases and conditions, including, among others, influenza, respiratory
syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal
occult blood. Quidel’s research and development engine is also
developing a continuum of diagnostic solutions from advanced
lateral-flow and direct fluorescent antibody to molecular diagnostic
tests to further improve the quality of healthcare in physicians’
offices and hospital and reference laboratories. For more information
about Quidel’s comprehensive product portfolio, visit quidel.com.
Forward-Looking Statements
This press release contains certain forward-looking statements. These
matters are subject to risks and uncertainties that could cause actual
results to differ materially from those projected, anticipated or
implied. These risks and uncertainties include: the risk that
disruptions will occur from or in connection with the acquisitions or
the transition of the businesses to the Company that will harm the
Company’s business, the Triage business or the BNP business; any
disruptions or threatened disruptions to the relationships of the
Company, the Triage business or the BNP business with their respective
distributors, suppliers, customers and employees; the Company’s ability
to manage the foreign expansion; the receipt of regulatory approvals or
clearances relating to the Triage business or the BNP business, or any
loss of previously received regulatory approvals or clearances; a
significant reduction in sales of the Triage business or BNP business,
or increase in costs, expenses or other charges incurred by, relating to
or arising from such businesses; the inability to achieve anticipated
financial results from the acquired businesses; and the Company’s
ability to successfully transition and integrate the acquired businesses
into the Company’s operations, including its ability to realize
anticipated synergies and operational improvement. Forward-looking
statements are based on management’s expectations as well as estimates
and assumptions prepared by management that, although they believe to be
reasonable, are inherently uncertain. The Company is subject to
additional risks and uncertainties described in the Company’s annual
report on Form 10-K and subsequent quarterly reports on Form 10-Q. You
are cautioned not to place undue reliance on these forward-looking
statements, which reflect management’s analysis and expectations only as
of the date of this press release. We undertake no obligation to
publicly release the results of any revision or update of the
forward-looking statements, except as required by law.
View source version on businesswire.com: http://www.businesswire.com/news/home/20171006005515/en/
Source: Quidel Corporation
Quidel Corporation
Randy Steward
Chief Financial Officer
(858)
552-7931
or
Clermont Partners
Angie Mazza
(312)
690-6006
amazza@clermontpartners.com