SAN DIEGO - QuidelOrtho Corporation (NASDAQ:QDEL), a prominent player in the in vitro diagnostics field, has announced the addition of John R. Chiminski and R. Scott Huennekens to its board of directors, effective last Monday. The company, known for its diagnostic solutions, has appointed these industry veterans to enhance the board's depth of expertise in healthcare and biopharma. According to InvestingPro, QuidelOrtho is one of over 1,400 US companies covered by comprehensive Pro Research Reports, offering investors detailed analysis and actionable insights.
John R. Chiminski, with a diversified background in medical diagnostics and pharmaceuticals, has held leadership roles at Catalent Inc . (NYSE:CTLT) and GE Healthcare. His experience spans over two decades, with a focus on operations, product development, and global business growth. Notably, Catalent has shown strong market performance with a 67.75% return over the past year, though InvestingPro analysis indicates the stock is currently trading near its 52-week high of $62.37. InvestingPro subscribers have access to 10 additional ProTips about Catalent's current market position and future outlook.
R. Scott Huennekens brings a wealth of experience from the MedTech sector, having been involved in over 20 startups and public companies. His previous roles include leadership positions at Verb Surgical, Volcano Corporation, and Digirad Corporation, with current board chairmanships at Envista Holdings (NYSE:NYSE:NVST) and Hyperfine (NASDAQ:HYPR).
These appointments follow the resignations of James R. Prutow and Robert R. Schmidt from the board on November 21, 2024, after a secondary offering of QuidelOrtho common stock by The Carlyle Group (NASDAQ:CG). With the new members, the QuidelOrtho board now consists of 11 directors, 10 of whom are independent.
Kenneth F. Buechler, Ph.D., Chairman of the Board, expressed confidence that the new appointees would contribute significantly to the company's growth and transformation plans. Brian J. Blaser, President and CEO of QuidelOrtho, also anticipates that the new board members' global experience and expertise will be valuable assets for the company's future.
QuidelOrtho is committed to advancing diagnostics to improve health outcomes and continues to innovate in immunoassay, molecular testing, clinical chemistry, and transfusion medicine. The company aims to deliver fast, accurate, and reliable diagnostics across various healthcare settings. For detailed financial analysis and comprehensive insights into QuidelOrtho's market position, investors can access the full range of metrics and expert analysis through InvestingPro's exclusive research reports.
The information for this article is based on a press release statement from QuidelOrtho Corporation.
In other recent news, Catalent, Inc., a significant player in the pharmaceutical industry, has been approved by the European Commission for acquisition by Novo Holdings A/S, an investment firm specializing in life sciences. The transaction is expected to be finalized by the end of 2024. Catalent's President and CEO, Alessandro Maselli, will continue leading the company post-acquisition.
In financial developments, Catalent reported first-quarter revenue of $1.02 billion, falling short of expectations, with the Biologics segment generating $461 million versus the expected $470.57 million. Jefferies has maintained a hold rating on Catalent and revised its fiscal year 2025 revenue and EBITDA estimates for the company downwards following these results.
In addition to the acquisition, Catalent has agreed to sell its Somerset, New Jersey facility to Ardena, a private contract drug manufacturer, with the transaction expected to finalize in early 2025. These are some of the recent developments concerning Catalent.
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