QuidelOrtho shares jumped 32.2% to $18.23 in the last trading session on heavy volume, following reports the company is exploring a sale of its Point-of-Care testing business for an estimated $1.5 billion. The potential divestiture has attracted interest from several private equity firms and is seen as a way to reduce QuidelOrtho's roughly $2.6 billion debt load from its 2022 merger with Ortho Clinical Diagnostics. Investors viewed the move as a value-unlocking catalyst that could streamline operations and sharpen the company's focus on core diagnostics. The stock had gained 5.9% over the prior four weeks. QuidelOrtho is expected to report quarterly earnings of $0.04 per share on revenues of $625.38 million.
Quidel CorporationPotential $1.5 billion sale of Point-of-Care business to reduce debt and unlock value
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