QuidelOrtho Shares Jump 35% on $1.5B Point-Of-Care Unit Sale Talks
QDEL•Shares of QuidelOrtho surged 35% on Monday as the company engaged Advent International, SK Capital Partners and Archimed in talks to divest its point-of-care testing unit at an approximate $1.5 billion valuation. The move aims to reduce QuidelOrtho’s $2.6 billion net debt inherited from the 2022 Quidel–Ortho Clinical Diagnostics merger.
1. Sale Talks Kick Off
QuidelOrtho has initiated discussions with Advent International, SK Capital Partners and Archimed to sell its point-of-care testing unit, which includes rapid antigen tests for Covid and flu, at a targeted valuation of roughly $1.5 billion.
2. Addressing Net Debt Load
The proceeds from the potential divestiture are earmarked to reduce the company’s approximately $2.6 billion net debt accrued from the 2022 merger of Quidel and Ortho Clinical Diagnostics, streamlining the balance sheet.
3. Stock Rally and Outlook
Shares jumped 35% on the news, marking the strongest one-day gain since May 2025, with the 12-month average analyst price target at $18.63, implying about 35% potential upside from recent closing levels.
