Quidel (QDEL) to acquire Alere (ALR) Triage assets

 

Quidel to acquire the Triage MeterPro cardiovascular and toxicology assets and the B-type Naturietic Peptide assay business run on Beckman Coulter analyzers from Alere (ALR) for a total consideration of $400 million plus $40 million in contingent consideration:

Co will acquire the Triage business, including real estate for the San Diego Triage facilities, and the BNP business for a total consideration of $400 million plus $40 million in contingent consideration

• The sale transactions are subject to the completion of Abbott's acquisition of Alere, as well as antitrust approvals and other customary closing conditions.
• Quidel will distribute the Triage MeterPro products and BNP assays through a combination of direct sales force and distributors.
• Triage MeterPro revenues were $146 million in 2016, while estimated revenues for the BNP business as structured under the transaction were $51 million for the same period.
• Total actual and estimated revenues for the acquired businesses in 2016 were $197 million.
• The transactions will be funded through a combination of cash on hand and committed financing.
• Quidel expects the transactions to close by September 30, 2017.