Quidel Corp (QDEL) Announces $300 Million Share Repurchase Authorization

QuidelOrtho Corporation (NASDAQ: QDEL) (“QuidelOrtho”), a global provider of innovative in vitro diagnostics technologies designed for point-of-care settings, clinical labs and transfusion medicine, announced today that its board of directors has authorized the repurchase of up to $300 million of shares of QuidelOrtho’s common stock over the next two years.

“This announcement just months after the close of QuidelOrtho’s formative transaction reflects the substantial synergies already identified from our integration, as well as our confidence in our long-term growth strategy, the sustainability of our broad base of recurring revenues, and the durability of our strong margin profile,” said Douglas Bryant, Chairman and Chief Executive Officer of QuidelOrtho. “It also demonstrates our commitment to strategically return capital to shareholders, while investing in the long-term growth of the business. We continue to prioritize investments in R&D and manufacturing capacity expansion, and we remain committed to maintaining a strong balance sheet with appropriate levels of leverage.”

The share repurchase authorization permits QuidelOrtho to repurchase, on a discretionary basis, up to $300 million of its outstanding shares of common stock in the open market or in privately negotiated transactions, subject to market conditions and other factors. This share repurchase authorization does not obligate QuidelOrtho to repurchase any specific number of shares and may be suspended, modified, or terminated at any time without prior notice.

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