QuidelOrtho Announces Strategy to Accelerate Growth in Molecular Diagnostics

Core Viewpoint - QuidelOrtho Corporation is refocusing its molecular diagnostics strategy by planning to acquire full ownership of LEX Diagnostics for approximately $100 million after FDA clearance and discontinuing the development of its Savanna platform [1][4][6] Company Strategy - The intended acquisition of LEX Diagnostics aims to strengthen QuidelOrtho's position in the rapidly growing point-of-care molecular diagnostics market [4][5] - The decision to discontinue the Savanna platform development is based on recent clinical trial results and a strategic review of market opportunities [5][6] LEX Diagnostics Overview - LEX Diagnostics specializes in molecular diagnostics, offering ultra-fast testing capabilities that can deliver positive results in about six minutes for Flu A, Flu B, and COVID-19 [3] - The technology integrates into point-of-care workflows, providing high sensitivity comparable to PCR testing at competitive prices [3] Financial Guidance - QuidelOrtho is maintaining its fiscal 2025 financial guidance as previously provided, indicating stability in its financial outlook despite the strategic changes [7]