Douglas Bryant

"We have been looking at acquisition opportunities in high-growth segments of the POC diagnostics market, such as cardiovascular, for several years, and believe that this strategic acquisition extends Quidel's market leadership, adding an extensive cardiovascular and toxicology POC offering to our innovative medical diagnostics portfolio."

Douglas Bryant,
President and CEO,
Quidel Corporation

Quidel Corporation has entered into definitive agreements to acquire the Triage MeterPro cardiovascular (CV) and toxicology assets (Triage business) and the B-type naturietic peptide (BNP) assay business run using Beckman Coulter analyzers (BNP business) from Alere Inc. These products are being divested in order to obtain antitrust approvals required for Abbott's pending acquisition of Alere. The sale transactions are subject to the completion of Abbott's acquisition of Alere, as well as antitrust approvals and other customary closing conditions.

Quidel will acquire the Triage business, including real estate for the San Diego Triage facilities, and the BNP business for a total consideration of USD 400 million plus USD 40 million in contingent consideration. Perella Weinberg Partners LP acted as exclusive financial advisor to Quidel in this transaction. Gibson, Dunn & Crutcher LLP acted as legal advisor.

Quidel will distribute the Triage MeterPro products and BNP assays through a combination of direct sales force and distributors. Triage MeterPro revenues were USD 146 million in 2016, while estimated revenues for the BNP business as structured under the transaction were USD 51 million for the same period. Total actual and estimated revenues for the acquired businesses in 2016 were USD 197 million. Quidel expects the transactions to close by September 30, 2017.

10 Diagnostic Imaging Trends for 2018


Digital version