Quidel Picks Up Diagnostic Hybrids For $130M

Law360, New York (January 12, 2010, 3:24 PM EST) -- Diagnostic test maker Quidel Corp. has revealed plans to shell out $130 million in cash to snap up Diagnostic Hybrids Inc., which manufactures direct fluorescent in vitro diagnostic assays, a move the company said would help diversify its revenue base.

Under the terms of the deal, announced Sunday, San Diego-based Quidel will operate the privately held Diagnostic Hybrids as a separate subsidiary, according to the company.

Athens, Ohio-based Diagnostic Hybrids' products are used in hospital and reference laboratories for a variety of diseases, including viral respiratory...
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