Zinger Key Points
- QuidelOrtho reportedly mulls offloading transfusion medicine unit for $1.5 billion-$2 billion
- The unit sells instruments and tests that help facilitate blood transfusions
- Get New Picks of the Market's Top Stocks
QuidelOrtho Corp QDEL is reportedly contemplating the potential sale of its transfusion medicine arm.
The diagnostics company is currently collaborating with advisors to assess interest in this particular division, which is expected to attract attention from strategic and private equity investors.
Also Read: Mixed Sentiment Persists Amid Uncertainty in QuidelOrtho's Core Profitability: Analyst.
Bloomberg noted that the deal could fetch between $1.5 billion-$2 billion.
The transfusion medicine unit was part of QuidelOrtho's portfolio following its acquisition of Ortho Clinical Diagnostics Holdings Plc in 2022.
The segment specializes in providing instruments and tests crucial for blood transfusions, ensuring patient and donor compatibility, and screening blood and plasma for diseases. The unit reported a Q3 revenue of $164 million, up 0.5% Y/Y.
Bloomberg noted that the deliberations are in the early stages, and there's no certainty that QuidelOrtho will decide to proceed with a sale of the unit.
Price Action: QDEL shares are up 0.99% at $64.10 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
