QUIDEL CORPORATION

QuidelOrtho Pivots Molecular Diagnostics Strategy with $100M LEX Diagnostics Acquisition

- QuidelOrtho announced plans to acquire LEX Diagnostics for approximately $100 million following FDA 510(k) clearance, expected in late 2025 or early 2026. - The company will discontinue its Savanna platform development based on recent clinical trial results and strategic portfolio realignment decisions. - LEX Diagnostics' ultra-fast molecular platform can deliver positive results for Flu A, Flu B, and COVID-19 detection in approximately six minutes. - The acquisition aims to strengthen QuidelOrtho's presence in point-of-care molecular diagnostics, described as one of the largest and fastest-growing diagnostic segments.