Quidel Buys Diagnostic Hybrids

San Diego-based Quidel, a developer of diagnostic tests, said today that it is in a definitive agreement to acquired Diagnostic Hybrids, a manufacturer of in-vitro diagnostic assays, in a deal worth approximately $130M in cash. According to Quidel, the acquisition will broaden its current portfolio of diagnostic tests. Diagnostic Hybrids had revenues of $38M in 2008, and is based in Athens, Ohio.