NEW YORK (GenomeWeb News) – Point-of-care diagnostic test provider Quidel said today that it has agreed to acquire Diagnostic Hybrids for approximately $130 million.
Diagnostic Hybrids, based in Athens, Ohio, manufactures and sells direct fluorescent in vitro diagnostic assays used in hospital and reference laboratories for a variety of diseases, including viral respiratory infections, herpes, chlamydia, and thyroid disease.
Quidel, based in San Diego, said that Diagnostic Hybrids' assays will broaden its current portfolio into complementary non-seasonal infectious and autoimmune diseases and help diversify its revenue base.
"In the hospital segment, fluorescent assays fill a customer need that is not met by point-of-care lateral flow or molecular diagnostics assays," Douglas Bryant, Quidel's president and CEO, said in a statement.
Bryant added that the combined company will offer "a continuum of diagnostic tests for triaging patients, confirming diagnoses, and providing actionable results to improve patient care."
Quidel said that it plans to operate Diagnostic Hybrids as a separate subsidiary, and that it expects the acquisition to close in current quarter.