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QuidelOrtho, the diagnostics company whose rapid antigen tests were the first approved for Covid-19, is exploring a sale of its testing unit as private equity firms circle healthcare targets.
The company's shares have shed 90% of their value since that pandemic-era peak, compressing the valuation backdrop for any deal.
The Asset on the Block QuidelOrtho built its profile as a Covid testing leader when its rapid antigen product won first-mover approval status during the pandemic.
That franchise is now the unit under review for a potential divestiture.
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