Business
QuidelOrtho Announces $300 Million Share Repurchase Authorization
Reflects QuidelOrtho’s confidence in its strong balance sheet and cash generation QuidelOrtho continues to prioritize investments in R&D, manufacturing
About this update from Quidelortho Corporation
[{"type":"text","content":"\n\nReflects QuidelOrtho’s confidence in its strong balance sheet and cash generation\n\n\nQuidelOrtho continues to prioritize investments in R&D, manufacturing capacity, and debt paydown\n\n\n SAN DIEGO--(BUSINESS WIRE)--\nQuidelOrtho 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.\n\n“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.”\n\nThe 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.\n\nAbout QuidelOrtho Corporation\n\nQuidelOrtho 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.\n\nRanked 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 ...