Quidel Buys Diagnostic Hybrids for $130M

1/12/10Follow @bvbigelow

San Diego-based Quidel (NASDAQ:QDEL), which makes medical diagnostic tests used at the point-of-care, says it is paying $130 million in cash to acquire Athens, OH-based Diagnostic Hybrids, a privately held maker of medical diagnostic tests for hospitals and laboratories. Diagnostic Hybrids, founded in 1983, was spun out from Ohio University, and the university’s fund-raising arm stands to collect about $41.5 million for its $1 million-plus investment. Diagnostic Hybrids, which sells almost entirely in the U.S., generated $38 million in sales in 2008. The Ohio company makes tests for a variety of diseases, including viral respiratory infections, herpes, Chlamydia, and expects to boost sales by utilizing Quidel’s larger sales and marketing network.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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