QuidelOrtho Corp Announces Strategic Shift in Molecular Diagnostics

San Diego-based health care company QuidelOrtho Corp has announced a significant strategic shift in its molecular diagnostics division. The company plans to acquire full ownership of LEX Diagnostics, contingent upon receiving 510(k) clearance from the U.S. FDA. This move is part of a broader strategy to accelerate growth in the molecular diagnostics sector.

In conjunction with this acquisition, QuidelOrtho has decided to discontinue the development of its Savanna platform. This decision aligns with the company’s refocused strategy to enhance its offerings in molecular diagnostics. The discontinuation of the Savanna platform was also highlighted in multiple reports from sources such as Seeking Alpha and Investing.com on June 3, 2025.

QuidelOrtho’s market capitalization stands at approximately $2.04 billion, with a close price of $30.67 as of May 29, 2025. Despite a negative price-to-earnings ratio of -5.58, the company has been identified as a strong growth stock by Finviz.com on June 2, 2025.

The company has reaffirmed its full-year 2025 financial guidance and plans to host a conference call at 5:00 p.m. ET to discuss these strategic changes further. This announcement marks a pivotal moment for QuidelOrtho as it seeks to strengthen its position in the health care sector by expanding its diagnostic services portfolio.

QuidelOrtho Corp, listed on the Nasdaq and operating in the health care sector, continues to focus on providing innovative diagnostic technologies, including clinical chemistry, immunoassay, molecular diagnostics, and point-of-care diagnostics. The strategic acquisition of LEX Diagnostics is expected to bolster the company’s capabilities in these areas.