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QuidelOrtho Corporation Completes Acquisition of LEX Diagnostics

prnewswire.com
QDEL QuidelOrtho completed the acquisition of LEX Diagnostics, which is expected to accelerate growth in point-of-care molecular diagnostics by expanding its portfolio with an ultra-fast PCR platform. The acquisition and FDA clearance of the LEX VELO System are seen as a pivotal moment for the company.

QuidelOrtho Corporation Completes Acquisition of LEX Diagnostics – Marks a Milestone in QuidelOrtho's Plans to Accelerate Growth in Point-of-Care Molecular Diagnostics –

– Expands Portfolio with Ultra-Fast PCR Platform Designed to Deliver Results in Approximately Ten Minutes or Less –

– Company Expects to Initiate U.S. Commercial Launch of the LEX VELO System Later This Year –

SAN DIEGO, April 20, 2026 /PRNewswire/ -- QuidelOrtho Corporation (Nasdaq: QDEL) (the "Company" or "QuidelOrtho"), a global leader of innovative in vitro diagnostics, announced today it has completed the acquisition of LEX Diagnostics ("LEX") for cash consideration of approximately $100 million. The LEX VELO System received U.S. Food and Drug Administration ("FDA") 510(k) clearance and CLIA waiver in February 2026.

The LEX VELO System is a breakthrough molecular diagnostics platform that is designed to deliver highly sensitive, multiplex RT-PCR testing for Influenza A, Influenza B and COVID-19 directly from a swab sample in approximately six to ten minutes. Its proprietary cartridge-based design supports rapid clinical decision-making in decentralized care environments by eliminating the need for external liquid handling; delivering speed, reliability and ease of use. The acquisition of LEX marks a critical milestone in QuidelOrtho's molecular diagnostics strategy to accelerate its growth in point-of-care molecular diagnostics by acquiring innovative technology within one of the fastest-growing segments of the diagnostics market.

"The FDA clearance of the LEX VELO System and the completion of our acquisition of LEX mark a pivotal moment for QuidelOrtho and for our customers," said Brian J. Blaser, President and Chief Executive Officer of QuidelOrtho. "This ultra-fast PCR platform is designed to deliver lab-quality results in minutes and fits seamlessly into point-of-care workflows. It empowers providers to act faster, make better-informed decisions and ultimately improve patient outcomes. It also reflects our long-term commitment to bringing advanced diagnostics closer to the patient."

Completing the acquisition of LEX expands QuidelOrtho's molecular diagnostics portfolio while complementing the Company's leadership positions in immunoassay, clinical chemistry and transfusion medicine. It reinforces QuidelOrtho's ability to deliver integrated diagnostic solutions across the continuum of care, from point of care to hospital, lab to clinic.

"LEX achieved an extraordinary milestone with FDA clearance and CLIA waiver of the LEX VELO System," said Ed Farrell, Chief Executive Officer of LEX. "We are proud to join QuidelOrtho and to bring this technology to customers worldwide. We believe we can redefine what is possible in point-of-care molecular diagnostics."

QuidelOrtho expects to initiate the U.S. commercial launch of the LEX VELO System later this year. Global expansion is expected to follow, subject to local regulatory approvals.

QuidelOrtho is dedicated to advancing diagnostics to power a healthier future. For more information, please visit quidelortho.com and follow QuidelOrtho on LinkedIn, Facebook and X.

About QuidelOrtho Corporation

With expertise spanning clinical chemistry, immunoassay, immunohematology and molecular testing, QuidelOrtho Corporation (Nasdaq: QDEL) is a leading global provider of diagnostic solutions, dedicated to advancing fast, accurate and reliable results that help improve patient outcomes – from the point of care to hospital, lab to clinic. Building on a legacy of innovation, QuidelOrtho works with healthcare providers to advance diagnostics that connect insights with solutions, defining a clearer path for informed decisions and better care.

Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are any statement contained herein that is not strictly historical, including, but not limited to, QuidelOrtho's commercial and other strategic goals, and other future plans, objectives, strategies, expectations and intentions. Without limiting the foregoing, the words "may," "will," "could," "would," "should," "might," "expect," "anticipate," "believe," "estimate," "plan," "intend," "goal," "project," "strategy," "future," "continue," "aim," "strive," "seek" or similar words, expressions or the negative of such terms or other comparable terminology are intended to identify forward-looking statements. Such statements are based on the beliefs and expectations of QuidelOrtho's management as of the date of this press release and are subject to significant known and unknown risks and uncertainties. Actual results or outcomes may differ significantly from those set forth or implied in the forward-looking statements. The following factors, among others, could cause actual results or outcomes to differ from those set forth or implied in the forward-looking statements: fluctuations in demand for QuidelOrtho's non-respiratory and respiratory products; supply chain, production, logistics, distribution and labor disruptions and challenges, including disruptions and challenges related to the 2026 Middle East conflict; inability to successfully identify, consummate or realize the anticipated benefits of strategic transactions, strategic restructurings, divestitures, spin-offs or discontinuances of certain business operations, or debt financings, on the anticipated timelines, or at all; delays in the development of or failures or delays in the receipt of approvals for new or enhanced products; failure of new products and services to be commercially viable or accepted; changes in reimbursement rates for QuidelOrtho's products, including reimbursement rate reductions proposed by the China National Health Security Administration; and other macroeconomic, geopolitical, market, business, competitive and/or regulatory factors affecting the business of QuidelOrtho generally, including those arising from the effects of announced or future or amended tariffs, trade policies, investigations and global trade relations, as well as those discussed in QuidelOrtho's Annual Report on Form 10-K for the fiscal year ended December 28, 2025 and subsequent reports filed with the Securities and Exchange Commission, including under Part I, Item 1A, "Risk Factors" of the Form 10-K. You should not rely on forward-looking statements as predictions of future events because these statements are based on assumptions that may not come true and are speculative by their nature. All forward-looking statements are based on information currently available to QuidelOrtho and speak only as of the date of this press release. QuidelOrtho undertakes no obligation to update any of the forward-looking information or time-sensitive information included in this press release, whether as a result of new information, future events, changed expectations or otherwise, except as required by law.

Investor Contact:

Juliet Cunningham

Vice President, Investor Relations

[email protected]

Media Contact:

Stephanie Kleewein

Senior Corporate Communications and PR Manager

[email protected]

SOURCE QuidelOrtho Corporation