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QUIDEL Quidel Contacts : Randy Steward Chief Financial Officer ( 858 ) 552-7931 Media and Investors : Ruben Argueta ( 858 ) 646-8023 Ortho Clinical Diagnostics Ortho Clinical Diagnostics : Investors : Bryan Brokmeier , CFA IR@orthoclinicaldiagnostics.com Media : Lisa Hayes media@orthoclinicaldiagnostics.com rargueta@quidel.com Quidel Corporation Signs Definitive Agreement to Acquire Ortho Clinical Diagnostics Strategic , transformational acquisition advances Quidel's global leadership in diagnostics Transaction Highlights • Brings together highly complementary diagnostic portfolios with world - class technologies and platforms spanning high - throughput systems to near - patient and at - home testing . • Provides Quidel's expansive point - of - care diagnostics portfolio with access to Ortho's broad global reach across 130 - plus countries , accelerating growth for Quidel's existing product portfolio and providing exposure to new , emerging markets . . • Deepens innovation pipeline , diversifies product portfolio , and accelerates product growth , driving sustainable revenue in a combined total addressable market of $ 50 billion . Increases financial flexibility with combined estimated cost synergies of $ 90 million by end of year three , and revenue synergies in excess of $ 100 million by 2025 , as well as opportunities for adjusted EBITDA margin expansion , supporting enhanced cash generation . SAN DIEGO , CA and RARITAN , NJ -- ( BUSINESS WIRE ) - December 23 , 2021 -- Quidel Corporation ( NASDAQ : QDEL ) ( " Quidel ” ) and Ortho Clinical Diagnostics Holdings plc ( NASDAQ : OCDX ) ( " Ortho " ) today announced that they have entered into a definitive agreement in which Quidel will acquire Ortho , one of the world's largest in vitro diagnostics companies , for $ 24.68 per share of common stock using a combination of cash and newly issued shares in the combined company , representing a 25 % premium over Ortho's closing price on December 22 , 2021 and an equity value of approximately $ 6.0 billion . The transaction is expected to close during the first half of fiscal year 2022 , subject to customary closing conditions . " The combination with Ortho will help solidify Quidel as a leader in the diagnostics industry , bringing together innovative , complementary products , solutions , and services that enhance the health and well- being of patients across the globe , " said Douglas Bryant , President and Chief Executive Officer of Quidel , who will serve as Chairman and Chief Executive Officer of the combined company . “ Establishing a