Quidel Acquires Diagnostic Hybrids for US$130 Million

Quidel Corporation (San Diego, CA, USA) signed a definitive agreement to acquire the privately owned company Diagnostic Hybrids, Inc. (Athens, OH, USA) for approximately US$130 million in cash.

Quidel provides a variety of rapid point-of-care diagnostic tests marketed under the brand name of QuickVue. Diagnostic Hybrids manufactures and commercializes direct fluorescent in vitro diagnostic assays used in hospital and reference laboratories for a number of diseases.

Diagnostic Hybrids leverages its antibody development and cell culture expertise to develop new products that address significant market opportunities. The company's direct sales force serves over 700 North American customers, and its products are sold via distributors outside the United States.

"Diagnostic Hybrids will broaden Quidel's current portfolio into complementary nonseasonal infectious and autoimmune diseases and help diversify our revenue base. Moreover, Diagnostic Hybrids has a solid track record of generating strong and profitable sales growth," said Douglas Bryant, president and CEO of Quidel.

David Scholl, Ph.D., president and CEO of Diagnostic Hybrids Diagnostic added, "Our combined organization will have greater channel strength and together we will provide our customers a full service offering of best-in-class diagnostic products."

Quidel's portfolio of products currently includes tests that aid in the diagnosis of disease or condition states, including those caused by Chlamydia, fecal occult blood (FOB), respiratory viruses, herpes virus, other viruses; Helicobacter pylori, Streptococcus A; and pregnancy and thyroid disease tests. Quidel's products are sold to healthcare professionals on a worldwide basis.

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Quidel Corporation
Diagnostic Hybrids