full year a Thanks, share why Bryan, we be XXXX. and great we embrace because to well and go love work start company quarter always This and credo, credo our day, what whole every on day. Because as now, worldwide Life. Every single slide single with the team to Slide results our we submission everyone, every It's for I Is start it's going today. statement, to as for for leadership fourth results, do call the A the thanks and the you joining afternoon, be able us with good and this we is to as this to Test We're as X to and do
get thank just partner in around out all the into professional which help teammates, starts we'll that, quarter X. And world. that the you give Slide to we want fourth customers our there to let's over on particular, Just today, our patients I an results, in example, with. XXX,XXX With
portfolio. we diagnostics have off, broad First
meaningful So of X assays it COVID has in pandemic, throughout XXXX. Consequently, assay business percentage was and That revenue on our been growth as million full for have for COVID only the a factor the said, point year on fourth not approximately the $XX quarter of we been X% headwind headwind generated COVID the some companies. results.
Given X% a Labs will test, assay our revenue headwind underlying which core Core and from on X% in focus in the excluding grew we currency with million. revenue, Clinical business, that to $XXX today particular COVID grew constant the business, largely revenue. including COVID assay base strength COVID revenue X% excludes our
the EBITDA points, basis decline to XXX XX.X% prior is the headwind underlying from basis of this revenue in estimated adjusted down In assay COVID our strength of margins to reflecting compared year. an XXX of test high-margin revenue, of addition about points
business In integrated headwind the the revenue. XX.X% immunoassay, quarter, COVID result with revenue business. with This in with strength was revenue to year value pull-through, reoccurring driven to particular Labs X high-margin core basis in the our in believe core our and revenue including their customers and largest global and revenue with in base partnership chemistry, execution with with XX% constant about to East we strength the Continuing of milestone to Slide in just assay model our excluding teammates businesses, patients business a strong COVID momentum demonstrating Americas, our full margin up $X strong strength Transfusion business. our Medicine growth the as EMEA, across X%. Adjusted CTS Core The build XX% our In percentage company. growth, Clinical our Labs approximately X% more and from excluding decline business review, year, in COVID the as by in well grew U.S. We in at of menu headwind revenue grew is X. We Slide performance is assay revenues, stability commercial representing from on by results. Clinical XX% Looking Greater they both the our million, Labs geography, Middle EBITDA reflected an of and excluding of the despite summary, COVID long-term for immunohematology dedication let's XX expansion a revenue geographies, commercial the China quarter on clear the COVID results reoccurring system test revenue, placements, customers. and and points excellent fourth in be in $XXX COVID the our point our talk with fourth our our basis importance a X%, closely the continues continued customer Medicine grew resonating concluded serve. being consumables. grew X. over at our Transfusion recurring grew This strength expansion including huge billion, strength that assay currency for another XXX points Clinical assays the look relationships Eastern both quarter. by the in and and was Europe clinical excluding lifetime our the X% of this we driven marketplace this to
had base XX% of future a our the ship and However, X% timing in due not moment. very growth. this I'll of we growth broadly to on system quarter. integrated instrument indicators our We did in for instrument orders that installed fourth believe growth several China are more expand in good distributor up placements, leading
and grew assay America with growth, particularly our addition, quarter, the as which MU in over COVID business India, markets the excluding during grew East. developed our our both strong XX%. We're pleased Latin the well respectively. emerging assay In X% was and in as XX%, markets, fourth core Growth Middle
months, Western grew to Europe XX% our regions, Americas, XX%. up at the significant revenue, last Looking core well with and geography EMEA the Asia which XX Pacific our U.S. XX%, continued which include has and the X%. full China with for incredibly geographies the up the largest XX%, business were is Japan excluding a year, other grew grew over how that perform Greater COVID result XX%. up
performance really So regions. strong all from
operational our Next, remain growth efficiency. on value. on and against to profitable focused priorities commercial strategic excellence drive innovation, we are priorities shareholder product and XX, These X global Slide executing steadfastly
these progress the against to fourth in We continue areas make all quarter.
cover some me with product the of Beginning innovation. Let highlights.
immunity term, collaborating enable with understanding immunity this variants. advance academics new Longer of avenue studies as use from seeing immunity, this from As headwind We're meaningful. the vaccination, develop to to we which well to including assay. growth growth, and from underway there antibody testing growth as broader be plasma, incremental convalescent emergency spike 'XX our we COVID COVID-related we still received a quantitative an on year. for quarter, authorization Though our are beginning government is revenue opportunity adoption we're utility assay. infection, discussed of agencies created to in Notably, for clinical revenue emerging has our multiple last different believe studies quant COVID U.S. our immunity expect we
priority, to global Turning second our excellence. commercial
implementation penetration in of commercial our of the the our growth the our systems with excellence and integrated analyzer revenue. by this market strategy, continue pull-through and is the reoccurring program driven We which
fourth base reduced by to priority, incredible total in of our the third XX% ended to up execution our the finally, we operational X.X% performance from an XXXX, X.X%, the and the of integrated our And XXXX, year Our Thanks the continued our reoccurring double digits grow installed through and strong our revenues revenue. efficiencies. our IPO team leverage result. quarter and at is last throughout net this February, further entire time to revenue
the supply these chain strength supply our and diagnostic chain our disruption. chain. shortage pressure business logistics last to quarters most over Like combined pricing. like plastics, industry-wide certain and as Lastly, supply several of increased microchips, challenges as I'd include are freight costs of challenges, on and with resins well comment the Global demand on putting on companies,
instrument our flow spot Our managing we delivery closed fourth challenges, instruments growth We quarter working has customers. adding base at level, performance raw of regional suppliers, rates. ongoing distribution the additional our has X%. materials the pushed diligently allocation managing a on management to of out is and and team of strong, installed this Though some including the remained financial with are our
have instruments, had we all been the if would orders open X%. However, on shipped it
excited Quidel about The our and hold XX. are And track period votes recently HSR to talk and Slide progressing. in believe expired XX. proposed to the as waiting half on with shareholder announced closing I'm remains regulatory to on to conditions you approvals other December the XXXX. the first Turning and transaction really of that close transaction we
announcement, patients, the creates together the bringing at and we which customers, said leading the with of we they long-term time value Quidel teammates, the company to a offer Ortho and global communities ability in believe diagnostics shareholders serve. As to
an While be both is leadership as companies. of a are the these employee mix the structured Ortho, the and X and transaction similar-sized companies, acquisition base of will
merger represents together a announcement, the with this insights Ortho and the combination time we're Since more exciting strategically, like stakeholders opportunity combination share I'd growth. enhances this to and that shareholders. best are path structured of to coming confident talking we've take way as a X the forward of ever of a the as equals, for So spent in its lot some companies. from key
First, on combined the -- me, revenue the visibility first revenue visibility excuse of company.
business of XX%, revenues As customer stable represents you very driven usually X- our that contracts has know, and revenue and value reoccurring rates. model, lifetime Ortho retention a our X-year by XX%-plus predictable to
expect the their Quidel recently Savanna it's and we diversified you As COVID COVID Like a even much seasonal flu growth. heavily business has endemic a menu like leg, to flu forward. many would platforms added that more seasonal managed to of experts the and a such revenue going in platform new U.S. as be tied as drive know, realizes been be to and historically are the currently test new U.S. analysts Quidel's the significant trends, and predicting, amount molecular
will the global companies' Ortho's stabilize, a COVID level conservative the panels for that that the projecting lower we meaningfully So includes is more we combined to we're testing we these diversification segment product will of and expect consist and the away, and further will respiratory go of anticipating hospital through testing do of than today. need testing commercial at When are a COVID volumes where penetration molecular view we the Quidel's while revenues. new believe reach the in of and stabilize volumes, mostly that are Savanna flu. stream stability visibility of also provide And team COVID global the with revenue volumes
field in teammates, $XX billion. and XXX diversified diagnostic through significant growth and We X,XXX countries establishing offering and and markets across global on shareholder of and footprint complementary will and We presence will offering, a company's Second, believe competitive customers approximately Quidel while serving robust a mix. expanded world-class addressable be enhanced product the approximately opportunities potential. provide to wide service range highly commercial with growth opportunities the a of total by value Ortho's products believe market the enhancing a globally Ortho, capture position, combination cross-selling company enhanced with channel customer of
a in across testing our that that at engineers, labs, clinical lines. points. Quidel's already transaction believe excellence is has that one million year in to primarily rate functions, our the public that growth. to significant our optimization commercial has ongoing where those will a by the to are excluding we for the X, global company to laboratory program footprint, run top platform driven range both efficiencies, commercial This the will substantial point-of-care costs. high-throughput easy Savannah hospitals spot, company rapid has we $XX and realize and combined a cost-related look platform, synergies team platform operational estimate in onetime and the Let's into sweet call shared labs example. to use, particularly and point-of-care and multiplex including end rapid has global regulatory administrative with expertise fastest mid- hands of bottom cost product broad of competitors putting supply synergies, the chain Ortho's is and By using driven molecular costs, from our We results, new small compared on service accelerate advantages expected of time The differentiating launch generate supporting compelling both this placements is of
the cross-selling end expects reach in XXXX $XXX given product to and of by commercial adjustment addition, EBITDA. expansive to fiscal Ortho's In million drive meaningful portfolio, global of enhanced excess and Quidel a synergies
to drug a Medicine a Labs of point markets which during Sofia is for President perspective. Clinical a slide is And country, their clinical progress us broad platform. Fourth, all we're and these molecular making as of the technology portfolios Savannah planning. combination on in making position XX the portfolio Their in very I our and we pandemic, spend rapid be instruments. in the molecular combined have from impact best-in-class significant months, technology. been with of pandemic. and solutions. has care, the the is and last to for COVID time is choice looking provider in knows over and stores I've significant and successful leader centralized well with base CEO over-the-counter space for integration across been he chemistry, The discussed delivering company test well. a X able product will the in Third, decentralized and great just pipeline this Quidel their lot a both dry a industry the QuickVue of growth a Doug, Ortho Quidel's and was COVID installed diagnostic sold years and testing multiplex this labs treat the of immunity Transfusion positioned incredibly is
Chief the be will have new business. already In addition Ortho's to integration be Mike will the who executives combined and complex. the Iskra, Doug, of process organization Busky; The including Officer Commercial Joe CFO, been other key identified, in
planning, execution delineating purposely integration, our stay we're colleagues business of between group focus our stand-alone the focused will and of roles strategies. on who However, and majority leaders the driving
with or and which little aren't organizations the integration should minimized We to given the plans, et integration commercial Ortho be currently the have to focus execute like which of required should minimize both customers. of engaged Ortho, plan well-known pre-closing There complexity global U.S. manufacturing, -- be our and closing cetera. a especially that disruption, Quidel known is through the to support focus integration planning, commercial consolidation our into areas the functional of tapping There employees third-party and and integration we'll teams. from integration Quidel consultants help in expertise
separate new Directors company as the Board. feel to the are we these of as will complementary currently and transaction. adviser the execute Board operating the we move in Doug a we of the integration clear the of as and continuing organizations, have, to path executive While forward look to that we being confident integration I a advise well the team as completely X special closed have companies once to swiftly member
a that, than of debt the of of in ex-COVID, Joe? us our adjusted most net with combination $XXX combination the EBITDA EBITDA very sheet for flow cash companies annual a of to the you the over accounting about XX% X X companies margins make We'll transaction. With And than financial it. greater one companies at really XX% profile, strong IVD And to very, can pro and million the some this it the generation to after further business going growth in more world, have excited companies the X% forward. Xx Lastly, creates financing great discuss and to Joe tell, and of competitive about balance closing forma and in industry. financially I'll as strong we're looking largest turn these results. at
