Quidel Announces Early Termination Of The Hart-Scott-Rodino Waiting Period For Its Pending Acquisition Of Alere’s Triage B-Type Naturietic Peptide (BNP) Assay Business Run On Beckman Coulter Analyzers
Published: Sep 29, 2017
SAN DIEGO--(BUSINESS WIRE)--Quidel Corporation (NASDAQ: QDEL) (“Quidel”), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced that it has received notice from the Federal Trade Commission granting early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to Quidel’s pending acquisition of Alere Inc.’s Triage B-type natriuretic peptide assay business run on Beckman Coulter analyzers (the “BNP business”). The acquisition of the BNP business by Quidel remains subject to the completion of Abbott’s acquisition of Alere, as well as other regulatory approvals and other customary closing conditions.
Quidel’s acquisition of Alere’s Triage MeterPro business is not affected by the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and remains subject to the completion of Abbott’s acquisition of Alere, as well as regulatory approvals and other customary closing conditions.
About Quidel Corporation
Quidel Corporation serves to enhance the health and well-being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the Sofia®, QuickVue®, D3® Direct Detection, Thyretain® and InflammaDry® leading brand names, as well as under the new Solana®, AmpliVue® and Lyra® molecular diagnostic brands, Quidel’s products aid in the detection and diagnosis of many critical diseases and conditions, including, among others, influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel’s research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians’ offices and hospital and reference laboratories. For more information about Quidel’s comprehensive product portfolio, visit quidel.com.
This press release contains certain forward-looking statements. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include: the ability to successfully consummate the Company’s acquisition of the BNP business, and the related pending acquisition of Alere’s Triage® MeterPro assets (collectively, the “acquisitions”) on a timely basis, if at all, including the satisfaction of the closing conditions of the acquisitions (including consummation of Abbott’s acquisition of Alere); the ability to receive all other regulatory approvals for the acquisitions on a timely basis, if at all; the ability to satisfy the conditions of and obtain financing to complete the acquisition of the Triage® MeterPro assets (the “Triage business”); the conditions of the credit markets and the Company’s ability to fund the acquisitions on acceptable terms; the risk that disruptions will occur from the acquisitions that will harm the Company’s business, the Triage business or the BNP business; any disruptions or threatened disruptions to the relationships of the Company, the Triage business or the BNP business with their respective distributors, suppliers, customers and employees; the Company’s ability to manage the foreign expansion; the receipt of regulatory approvals or clearances relating to the Triage business or the BNP business, or any loss of previously received regulatory approvals or clearances; a significant reduction in sales of the Triage business or BNP business, or increase in costs, expenses or other charges incurred by, relating to or arising from such businesses; the inability to achieve anticipated financial results from the acquired businesses; and the Company’s ability to successfully integrate the acquired businesses into the Company’s operations, including its ability to realize anticipated synergies and operational improvement. Forward-looking statements are based on management’s expectations as well as estimates and assumptions prepared by management that, although they believe to be reasonable, are inherently uncertain. The Company is subject to additional risks and uncertainties described in the Company’s annual report on Form 10-K and subsequent quarterly reports on Form 10-Q. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis and expectations only as of the date of this press release. We undertake no obligation to publicly release the results of any revision or update of the forward-looking statements, except as required by law.
For Quidel Corporation
Chief Financial Officer