Quidel Announces Closing of Acquisition of Alere Triage® Assets Creating an Expanded Portfolio of Rapid Diagnostic Capabilit...
October 06 2017 - 10:19AM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171006005515/en/
Quidel CorporationRandy StewardChief Financial Officer(858)
552-7931orClermont PartnersAngie Mazza(312)
690-6006amazza@clermontpartners.com
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