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QuidelOrtho explores sale of point-of-care unit for about $1.5B
The planned divestiture would unwind part of the 2022 Quidel-Ortho merger and could help the company deleverage, according to the discussion around the proposed deal price.
Yahoo Finance highlights QuidelOrtho Corporation shares as the stock market narrative shifts toward a possible reweighting versus peers, amid commentary about the company deleveraging.
The outlet says QuidelOrtho is looking to sell its point-of-care, or POC, division for roughly $1.5B, which would effectively undo parts of the 2022 merger of Quidel and Ortho.
Yahoo Finance adds that, assuming a sale near the rumored price, the remaining entity would be described as about 2.5 times levered and would be centered on the legacy Ortho business. It also points to how repeated missed estimates have factored into the thesis behind considering a division sale.