July 15, 2025
— Jeff Ward, Lehigh Valley News Briefs
Orasure, the Bethlehem-based maker of medical diagnostic and specimen-collection devices, received and rejected a buyout offer, Reuters reported.
Orasure (NASDAQ:OSUR) has been floundering and destroying investors’ wealth for years.
Still, it has a considerable amount of cash on its balance sheet.
Cash and cash equivalents were $248 million as of March 31, so a low bid could come off as trying to buy the company using its own cash.
OraSure shares were trading at $3.12 at 2:55 p.m. Tuesday. At that price, the company has a market capitalization of $234 million.
So rejecting the bid looks like the right thing to do. Still, OraSure needs something and so far nothing it’s done internally has helped investors.
It’s just with that pile of cash — despite “In My Humble Opinion” an ill-conceived stock buyback — the little South Bethlehem company can demand more.
The company makes the OraQuick HIV and InteliSwab COVID-19 hike tests. Chief Executive Carrie Eglinton Manner says the company’s goal is to bring medical tests to patients at home.
Here’s a link to Reuters, which cited anonymous people:
Here’s a link to OraSure’s last earnings report with cash and cash equivalents noted:
Lehigh Valley News Briefs 
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