Press Release

QuidelOrtho Announces $300 Million Share Repurchase Authorization

Aug 17, 2022
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Highlights

 

  • Reflects QuidelOrtho’s confidence in its strong balance sheet and cash generation
  • QuidelOrtho continues to prioritize investments in R&D, manufacturing capacity, and debt paydown

San Diego - 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.”

About QuidelOrtho Corporation

 

QuidelOrtho Corporation (Nasdaq: QDEL) unites the power of Quidel Corporation and Ortho Clinical Diagnostics behind a shared mission of developing and manufacturing innovative technologies that raise the performance of diagnostic testing and create better patient outcomes across the entire healthcare continuum.
 

Ranked among the world’s largest in vitro diagnostics (IVD) providers with more than 120 years of collective experience, we combine industry-leading expertise in immunoassay and molecular testing with a global footprint in clinical labs and transfusion medicine.
 

Our company’s comprehensive product portfolio delivers accuracy, speed, automation, and access, providing critical information when and where it is needed most. Inspired by a spirit of service, the QuidelOrtho family is committed to enhancing the well-being of people worldwide and happy in the knowledge we are making a difference. For more information, please visit www.quidelortho.com.

Media Contact: 
media@quidelortho.com