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QUIDEL FINALIZES FRENCH ACQUISITION

 SAN DIEGO, Sept. 9 /PRNewswire/ -- QUIDEL Corp. (NASDAQ: QDEL), a leading developer and marketer of rapid diagnostic tests, today announced the completed acquisition of a consumer diagnostic product line in France from Clonatec S.A., a subsidiary of OHF. The product line consists of three pregnancy tests and one ovulation prediction product that collectively maintain the second largest market position in France's $20 million ($U.S.) fertility testing market.
 QUIDEL purchased the trademarks and certain other assets related to the acquired product lines that were contributed by Clonatec into a newly formed company called QUIDEL France for a guaranteed 21.375 million French francs, or approximately $3.6 million ($U.S.). The acquisition has been structured as an exchange of 723,237 shares of newly issued QUIDEL common stock for a 75 percent interest and guarantees any shortfall in net realizable value by Clonatec. The agreement with Clonatec also provides certain restrictions which are intended to provide for the orderly disposition of the shares over an 18-month period. QUIDEL will also acquire the remaining 25 percent equity interest in QUIDEL France that is retained by Clonatec within two years of the initial closing. This transaction is subject to a formula based on the sales and profits of QUIDEL France, and is payable at QUIDEL's option in cash or additional shares.
 Since the announcement of the letter of intent, the company has been exchanging its own Generation III, One-Step products found in its Conceive(TM) brand of pregnancy and ovulation prediction tests into the products sold under the Blue Card and BlueTest Confidence labels in France. With this exchange the company has the ability to improve the profit margins of the acquired product lines.
 "This acquisition represents a significant contribution to our European sales and, more importantly, in concert with our two previous European transactions, it strategically positions the company to further expand its position in the developing consumer testing market in Western Europe," commented Scott L. Glenn, chairman and chief executive officer of QUIDEL. "Last year, these product lines generated sales of approximately (U.S.) $2 million for Clonatec and given their historical sales and net income levels for these product lines, we believe that the acquisition by itself will not have an adverse impact on our per share results." Glenn added, "By substituting our test device into the kits, we can further improve the margins and profitability associated with these product lines and anticipate their positive contribution to the company's results."
 QUIDEL Corp. develops, manufactures and markets rapid immunodiagnostic products for family planning and family care. These products, which provide simple, accurate and cost-effective diagnoses in the areas of human fertility, infectious diseases, allergy and autoimmune disorders, are designed for use in the physician's office, clinical laboratory and home testing markets.
 -0- 9/9/93
 /CONTACT: Scott L. Glenn, chairman and CEO, 619-552-7900, or Mark Francois, director-investor relations, 619-552-7931/
 (QDEL) CO: QUIDEL Corp.; QUIDEL France; Clonatec S.A. ST: California IN: MTC SU: TNM


JL-MF -- SD002 -- 0107 09/09/93 08:04 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
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