QuidelOrtho Formed by the Completion of Transaction Combining Quidel and Ortho Clinical Diagnostics
May 27 2022 - 9:00AM
Business Wire
QuidelOrtho to participate in the William Blair
42nd Annual Growth Stock Conference June 8, 2022
QuidelOrtho Corporation (NASDAQ: QDEL) (“QuidelOrtho”) announced
completion of the transaction combining Quidel Corporation
(“Quidel”) and Ortho Clinical Diagnostics Holdings plc (“Ortho”),
creating QuidelOrtho, a leading in vitro diagnostics company. The
new company, headquartered in San Diego, California, generated more
than $3.5 billion in combined revenues in 2021 and has
approximately 6,000 employees. QuidelOrtho will trade on the Nasdaq
Global Select Market under the symbol “QDEL.”
“We are very excited to bring together the talented and
experienced teams of both Quidel and Ortho who share a commitment
to the employees, customers, patients, and the communities we
serve,” said Douglas Bryant, Chairman and Chief Executive Officer
of QuidelOrtho. “There is a lot of important work ahead of us to
deliver on our targeted synergies and new product introductions and
we are energized and poised to excel in our combined mission to
deliver advanced diagnostics to improve human health. We look
forward to executing on our growth strategy as QuidelOrtho and
enhancing care across the testing continuum while driving long-term
value creation for our stockholders.”
Under the terms of the agreement governing the transaction,
former Ortho shareholders received $7.14 in cash and 0.1055 shares
of QuidelOrtho common stock for each Ortho common share. Former
Quidel stockholders received one share of QuidelOrtho common stock
for each share of Quidel common stock. The QuidelOrtho board is
composed of 8 former Quidel board members and 4 former Ortho board
members.
QuidelOrtho to Present at Upcoming Investor
Conference
Members of the QuidelOrtho management team, including Douglas
Bryant, Chairman and Chief Executive Officer, and Joseph Busky,
Chief Financial Officer, are scheduled to participate in the
William Blair 42nd Annual Growth Stock Conference in Chicago on
June 8, 2022, with a presentation scheduled for 8:00 a.m. Central
Standard Time.
Interested parties can access a live webcast and replay of the
presentation on the “Investors” page of QuidelOrtho’s website at
https://ir.quidelortho.com/, under the “Events Calendar” section of
the page, or by clicking on the following link:
https://wsw.com/webcast/blair66/qdel/1921284
Participants should allow approximately five to ten minutes
prior to the presentation's start time to visit the site and
download any streaming media software needed to listen to the
Internet webcast. A replay of the webcast will also be available on
the company's website for 14 days.
About QuidelOrtho Corporation
QuidelOrtho Corporation (Nasdaq: QDEL) unites the power of
Quidel Corporation and Ortho Clinical Diagnostics behind a shared
mission of developing and manufacturing innovative technologies
that raise the performance of diagnostic testing and create better
patient outcomes across the entire healthcare continuum.
Ranked among the world’s largest in vitro diagnostics (IVD)
providers with more than 120 years of collective experience, we
combine industry-leading expertise in immunoassay and molecular
testing with a global footprint in clinical labs and transfusion
medicine.
Our company’s comprehensive product portfolio delivers accuracy,
speed, automation and access, providing critical information when
and where it is needed most. Inspired by a spirit of service, the
QuidelOrtho family is committed to enhancing the wellbeing of
people worldwide and happy in the knowledge we are making a
difference.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. You can identify these statements and other forward-looking
statements in this press release by words such as “may”, “will”,
“would”, “expect”, “anticipate”, “believe”, “estimate”, “plan”,
“intend”, “continue”, or similar words, expressions or the negative
of such terms or other comparable terminology. These statements
include, but are not limited to, the benefits and results of the
business combination transaction, including QuidelOrtho’s future
plans, objectives, strategies, expectations and intentions, and
other statements that are not historical facts. Such statements are
based upon the current beliefs and expectations of QuidelOrtho’s
management and are subject to significant risks and uncertainties.
Actual results may differ from those set forth in the
forward-looking statements.
The following factors, among others, could cause actual results
to differ from those set forth in the forward-looking statements:
the challenges and costs of closing, integrating, restructuring and
achieving anticipated synergies; the ability to retain key
employees; and other economic, business, competitive, and/or
regulatory factors affecting the business of QuidelOrtho generally.
Additional risks and factors are identified under “Risk Factors” in
QuidelOrtho’s joint proxy statement/prospectus filed with the
Securities and Exchange Commission (the “Commission”) on April 11,
2022 and subsequent reports filed with the Commission.
You should not rely upon forward-looking statements as
predictions of future events because these statements are based on
assumptions that may not come true and are speculative by their
nature. QuidelOrtho has no obligation to update any of the
forward-looking information included in this press release, whether
as a result of new information, future events, changed expectations
or otherwise, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20220527005052/en/
Investor Contact: Bryan Brokmeier, CFA IR@Quidel.com
Media Contact: media@Quidel.com
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