A diagnostics company behind one of the best-known rapid Covid-19 tests has put its point-of-care testing unit up for sale, aiming at a valuation of $1.5bn, as private equity buyers eye opportunities in the healthcare and life sciences sectors. QuidelOrtho, a San Diego-based diagnostics group with a $940mn market capitalisation, is weighing bids from private equity groups including Advent International for its point-of-care testing division behind rapid antigen tests for Covid and flu, according to people familiar with the matter. Smaller private equity buyers including SK Capital Partners and Archimed have also expressed interest in the unit, which makes rapid tests for a range of respiratory viruses as well as certain cardiac problems, the people added.
Read the full article: QuidelOrtho Looks to Sell Testing Unit as PE Circles Healthcare Companies //
Source: https://www.ft.com/content/404f832c-89cf-49f7-a546-b0e4eb965f15?syn-25a6b1a6=1