Diagnostic Hybrids
Acquired by Quidel Corporation 2010
"Summit backed us every step of the way, honored its commitment to us, and made a huge impact on our business. We accomplished all our goals and more, and we couldn't have done it without them."
Revenue growth over Summit’s investment period, creating compelling new products in a maturing category
Acquired by Quidel Corporation in 2010
Revenue growth over Summit’s investment period, creating compelling new products in a maturing category
Acquired by Quidel Corporation in 2010
Originally incubated by Ohio University, Diagnostic Hybrids (DHI) had built a profitable growth business whose diagnostic products were highly valued by customers around the world. But the company’s core technology strength was in a mature category and the company was concerned about market headroom. Summit embraced management’s vision of a new wave of technological innovation to access new markets and to continue DHI’s strong growth.
How Summit Partners Helped
- Worked closely with CEO and CFO to manage a complex R&D portfolio and helped focus DHI’s resources on the highest value activities
- Assisted in strategy and planning for huge expansion of manufacturing capacity
- Recruited highly successful life sciences entrepreneur Ken Fong (founder of Clontech) to the board
- Helped company manage complex M& A discussions involving multiple parties
In 2010, Quidel Corporation (NASDAQ: QDEL) acquired DHI. Within three years, Quidel moved much of its San Diego-based bio-manufacturing operation to Athens, establishing a bio-manufacturing hub in an economically challenged region, creating hundreds of jobs.
The Portfolio Company Executive quoted herein did not receive compensation for any statements regarding Summit Partners. However, since Diagnostic Hybrids is a former portfolio company of Summit, this individual did receive general compensation in connection with his employment by the company. In addition, this individual is not an investor in a Summit fund but may have conflicts arising from his past role with Diagnostic Hybrids due to the company’s relationship with Summit.
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