Nasdaq-listed QuidelOrtho Corporation, a global leader of innovative in vitro diagnostics, has completed the acquisition of LEX Diagnostics for approximately US$100m. LEX Diagnostics is a UK-based molecular diagnostics company and a spin-out of TTP Group, the independent UK-based developer of products and technology across that sectors include healthcare, medtech, and life sciences.
Founded in 2020, LEX Diagnostics originated from a TTP innovation programme to translate a breakthrough in ultra-fast thermal control into a commercially viable diagnostic solution. This work led to the development of a point-of-care molecular testing platform.
The LEX VELO System is a breakthrough molecular diagnostics platform that is designed to deliver highly sensitive, multiplex RT-PCR testing for Influenza A, Influenza B and Covid-19 directly from a swab sample in approximately six to 10 minutes.
The LEX VELO System received US FDA clearance and CLIA waiver in February 2026.
“The FDA clearance of the LEX VELO System and the completion of our acquisition of LEX mark a pivotal moment for QuidelOrtho and for our customers,” said Brian J Blaser, president and CEO of QuidelOrtho.
The acquisition of LEX marks a critical step in QuidelOrtho’s molecular diagnostics strategy to accelerate its growth in point-of-care molecular diagnostics by acquiring innovative technology within one of the fastest-growing segments of the diagnostics market.
Completing the acquisition of LEX expands QuidelOrtho’s molecular diagnostics portfolio and reinforces its ability to deliver integrated diagnostic solutions across the continuum of care, from point of care to hospital, lab to clinic.
“We are proud to join QuidelOrtho and to bring this technology to customers worldwide,” said Ed Farrell, CEO of LEX. “We believe we can redefine what is possible in point-of-care molecular diagnostics.”
Press release: TTP Group announces the sale of LEX Diagnostics – TTP Group – TTP Group
