QuidelOrtho Corporation - QDEL STOCK NEWS

QuidelOrtho Corporation (NASDAQ: QDEL) announced the successful completion of its merger, forming a leading in vitro diagnostics company. With combined revenues exceeding $3.5 billion in 2021, QuidelOrtho is headquartered in San Diego, California, employing around 6,000 people. Shareholders of former Ortho received $7.14 plus 0.1055 shares of QuidelOrtho stock, while Quidel stockholders received one share of QuidelOrtho for each share held. The management team plans to present at the William Blair 42nd Annual Growth Stock Conference on June 8, 2022.

Quidel Corporation (NASDAQ: QDEL) and Ortho Clinical Diagnostics Holdings plc (NASDAQ: OCDX) have announced the expected closing of their business combination on May 27, 2022. The UK High Court has sanctioned the scheme of arrangement for Ortho, which will then become a wholly owned subsidiary of Coronado Topco, Inc. Following this, Quidel will also merge with Topco, leading to the creation of QuidelOrtho Corporation. The transaction includes Ortho shareholders receiving $7.14 in cash and 0.1055 shares of QuidelOrtho stock for each Ortho share.

Quidel Corporation (NASDAQ: QDEL) announced that its acquisition of Ortho Clinical Diagnostics Holdings plc has been approved by stockholders at a Special Meeting on May 16, 2022. The transaction is expected to close on May 27, 2022, pending regulatory approvals. Under the agreement, Ortho shareholders will receive $7.14 in cash and 0.1055 shares of the combined company for each Ortho share. Post-transaction, Quidel stockholders will own approximately 62% of the combined entity. This merger aims to enhance diagnostic solutions and create long-term value for shareholders.

Quidel Corporation (NASDAQ: QDEL) reported **record financial results** for Q1 2022, with **total revenues of $1,002.3 million**, a **167% increase** year-over-year from $375.3 million. **COVID-19 product sales** surged **211%** to $836.1 million. The company's **GAAP EPS** reached **$11.31**, compared to **$4.09** in Q1 2021. **Gross profit** was $740.0 million, equating to **74% of revenue**, down from **80%** the previous year. The company anticipates growth from its **planned acquisition of Ortho Clinical Diagnostics**, aiming to enhance market penetration and diagnostics capabilities.

Quidel Corporation (NASDAQ: QDEL) will report its fiscal Q1 2022 financial results after market close on May 4, 2022. Following this, a conference call will take place with CEO Douglas Bryant and CFO Randy Steward at 5:00 p.m. ET to discuss the results and business trends. Investors can join the call via telephone or a live webcast. The company is recognized for its rapid diagnostic testing solutions, including COVID-19 tests. Its innovative products have enhanced healthcare quality globally, establishing Quidel as a key player in the medical device industry.

Quidel Corporation (NASDAQ: QDEL) anticipates first-quarter 2022 revenues between $990 million and $1,000 million, a substantial increase of 164% to 166% compared to $375.3 million in Q1 2021. The expected COVID-19 product revenues are approximately $836 million, with about $657 million from QuickVue® and $138 million from Sofia® tests. With over 113 million QuickVue tests sold, Quidel is poised for strong annual performance while expanding its diagnostic testing capabilities.

Quidel Corporation (NASDAQ: QDEL) announced its participation in the Raymond James 43rd Annual Institutional Investors Conference on March 9, 2022, at 10:25 a.m. ET in Orlando, Florida. CEO Douglas Bryant and CFO Randy Steward will present insights on the company's business and financial developments, followed by a Q&A session. A live webcast will be available through Quidel's Investor Relations website, with a replay accessible for 14 days post-event. Quidel is recognized for its diagnostic solutions and rapid testing technologies, enhancing global healthcare.

Quidel Corporation (NASDAQ: QDEL) reported fourth quarter 2021 revenue of $636.9 million, a decline from $809.2 million in 2020, primarily due to a $249 million drop in Sofia product sales. Although COVID-19 product revenue increased 42% to $1.27 billion for the year, GAAP EPS decreased to $6.85, down from $10.78 in Q4 2020. The company is expanding into retail testing markets and has a definitive agreement to acquire Ortho Clinical Diagnostics. Full year gross profit was $1.27 billion, down from $1.34 billion in 2020.

Quidel Corporation (NASDAQ: QDEL) will release its fiscal fourth quarter and full-year 2021 financial results on February 17, 2022, after market close. Following this, CEO Douglas Bryant and CFO Randy Steward will host a conference call at 5:00 p.m. ET to discuss the results and answer investor questions. The call will cover business developments and financial trends, with material information likely included. Investors can join by phone or via a webcast, with replays accessible for one year for the webcast and 14 days for the phone replay.