UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Name of Issuer: Quidel Corp.
Title of Class of Securities: Common Stock, no par value
CUSIP Number: 74838J101
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Norman S. Schleifer
c/o Oracle Partners, L.P.
712 Fifth Avenue, 45th Floor
New York, New York 10019
(Date of Event which Requires Filing of this Statement)
October 1, 1997
If the filing person has previously filed a statement on Schedule
13G to report the acquisition which is the subject of this
Schedule 13D, and is filing this schedule because of
Rule 13d-1(b)(3) or (4), check the following box [ ].
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect to
the subject class of securities, and for any subsequent amendment
containing information which would alter the disclosures provided
in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18
of the Securities Exchange Act of 1934 ("Act") or otherwise
subject to the liabilities of that section of the Act but shall
be subject to all other provisions of the Act (however, see the
Notes).
CUSIP No. 74838J101
1. Name of Reporting Person
I.R.S. Identification No. of Above Person
Larry N. Feinberg
2. Check the appropriate box if a member of a group
a.
b.
3. SEC Use Only
4. SOURCE OF FUNDS
WC
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(d) of 2(e)
6. Citizenship or Place of Organization
U.S.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7. Sole Voting Power
2,234,300
8. Shared Voting Power
0
2
9. Sole Dispositive Power
2,234,300
10. Shared Dispositive Power
0
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,234,300
12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares*
13. Percent of Class Represented by Amount in Row (11)
9.4%
14. Type of Reporting Person*
IN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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Larry N. Feinberg is filing this Amendment No. 3 to
Schedule 13D to report the dissolution of a "group," as
defined in Section 13(d)(3) of the Securities Exchange Act
of 1934 (the "Act"), with respect to the common stock (the
"Common Stock") of Quidel Corp. ("Quidel").
Item 1. Security and Issuer
No change.
Item 2. Identity and Background
This statement is being filed on behalf of
Mr. Larry N. Feinberg (the "Reporting Person"). The
Reporting Person is the managing general partner of Oracle
Partners, L.P. and Oracle Institutional Partners, L.P.
(together, the "Partnerships"), both of which are investment
limited partnerships. The Reporting Person s also
President and sole shareholder of Oracle Investment
Management, Inc, which acts as investment manager to Oracle
Offshore Limited, an offshore investment fund (the "Offshore
Fund"), and various managed accounts. The principal
business of Mr. Feinberg is to act as investment manager.
The principal office of the Reporting Person is at 712 Fifth
Avenue, 45th Floor, New York, New York 10019.
The Reporting Person has not during the last five
years been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors). The Reporting
Person has not during the last five years been a party to a
civil proceeding of a judicial or administrative body of
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competent jurisdiction which resulted in a judgment, decree
or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or
state securities laws or finding any violations with respect
to such laws.
The Reporting Person is a citizen of the United
States of America.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, the Reporting Person is
deemed to beneficially own 2,234,300 shares of Quidel's
Common Stock. The shares deemed to be beneficially owned by
the Reporting Person are held by the Partnerships, the
Offshore Fund and by managed accounts over which Oracle
Investment Management, Inc. has investment discretion.
Since the last filing on Schedule 13D, 329,000 shares of
Common Stock were purchased by the Partnerships, the
Offshore Fund and the above-described managed accounts in
open market transactions at an aggregate cost of $1,186,816.
The funds for the purchase of the shares of Common
Stock held in the Partnerships came from capital
contributions to the Partnerships by their general and
limited partners. The funds for the purchase of the shares
of Common Stock held in the Offshore Fund and the managed
accounts over which the Reporting Person has investment
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discretion came from each entity's own funds. The working
capital of each of these entities includes the proceeds of
margin loans entered into in the ordinary course of
business, such loans being secured by the securities owned
by them.
On October 1, 1997, the Reporting Person terminated
his agreement with Mr. Jack Schuler that was originally
entered into on June 8, 1995, whereby the shares of Common
Stock deemed to be beneficially owned by Mr. Schuler would
be voted together with those deemed to be beneficially owned
by the Reporting Person. Therefore, for purposes of Section
13 of the Act, the Reporting Person is no longer deemed to
be the beneficial owner of the shares of Common Stock owned
by Mr. Schuler.
Item 4. Purpose of Transaction
The Shares deemed to be beneficially owned by the
Reporting Person were acquired for, and are being held for,
investment purposes. The Reporting Person may acquire
additional shares of Common Stock, dispose of all or some of
the Shares from time to time, in each case in open market
transactions, block sales or purchases or otherwise, or may
continue to hold the Shares.
The Reporting Person does not have any plan or
proposal which relates to, or would result in, any of the
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actions enumerated in Item 4 of the instructions to Schedule
13D. However, the Reporting Person reserves the right to
discuss company business with management, make proposals to
management and/or take other actions to influence the
management of Quidel should he deem such actions
appropriate.
Item 5. Interest in Securities of the Issuer
As of the date hereof, the Reporting Person is
deemed to beneficially own 2,234,300 shares of Quidel's
Common Stock. Based on Quidel's most recently filed Form
10-K, there are believed to be 23,767,616 shares of Quidel's
Common Stock outstanding. Therefore, the Reporting Person
is deemed to beneficially own 9.4% of Quidel's outstanding
shares of Common Stock. The Reporting Person has the sole
power to vote, direct the vote, dispose of or direct the
disposition of all the shares of Quidel's Common Stock that
he are currently deemed to beneficially own.
Item 6. Contracts, Arrangements, Understandings or
Relationships With Respect to Securities of
the Issuer
The Reporting Person does not have any contract,
arrangement, understanding or relationship with any person
with respect to the Common Stock of Quidel.
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Item 7. Material to be Filed as Exhibits
Attached hereto as Exhibit A is a description of
the transactions in the Common Stock of Quidel that were
effected by the Reporting Person since the most recent
filing on Schedule 13D through the date of this filing.
Signature
The undersigned, after reasonable inquiry and to
the best of his knowledge and belief, certifies that the
information set forth in this statement is true, complete
and correct.
August 4, 1998
/s/Larry N. Feinberg
Larry N. Feinberg
00751001.AZ1
EXHIBIT A
Daily Transactions* - Common Stock
Number of
Trade Date Shares Purchased Price Per Share Value
9/30/97 45,000 $5.01 $225,450
12/31/97 50,000 3.55 177,500
5/8/98 25,000 3.3875 84,688
6/26/98 82,000 3.1908 261,146
7/1/98 2,000 3.141 6,282
7/17/98 60,000 3.50 210,000
7/20/98 10,000 3.50 35,000
7/21/98 5,000 3.50 17,500
7/22/98 50,000 3.375 168,750
00751001.AZ1
___________________
* Each transaction listed above was an open market transaction.
00751001.AZ1
