(Bloomberg) -- Quidel Corp. has agreed to purchase testing company Ortho Clinical Diagnostics Holdings for $6 billion with a combination for cash and newly issued shares.
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Quidel will pay $24.68 a share, a 25% premium over Ortho Clinical’s closing price on Wednesday, the companies said in a statement Thursday.
The acquisition of Raritan, New Jersey-based Ortho will bring together the companies’ complementary diagnostic portfolios, technologies and platforms for everything from high-throughput systems to at-home testing, according to the statement
“The combination with Ortho will help solidify Quidel as a leader in the diagnostics industry,” said Douglas Bryant, chief executive officer of San Diego-based Quidel. “We expect the combined company will emerge as a global player with top-tier R&D capabilities, a more diverse product pipeline, and broader geographic footprint.”
Bryant will serve as chairman and CEO of the combined company, according to the statement.
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