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Meridian Bioscience (VIVO) has announced a definitive merger agreement with SD Biosensor and SJL Partners, valued at approximately $1.53 billion. Shareholders will receive $34.00 per share in cash, representing a 32% premium over the stock price prior to the offer. The transaction aims to enhance Meridian's value amid declining COVID-19 testing demand and is set to close in Q4 2022, pending shareholder approval and regulatory clearances. Post-transaction, Meridian will operate as an independent entity under the Consortium's ownership.
Meridian Bioscience, Inc. (NASDAQ: VIVO) announced preliminary results for Q3 fiscal 2022, projecting net revenues between $66 million and $69 million. The Diagnostics segment is expected to generate net revenues of $41 million to $43 million, while the Life Science segment is anticipated to contribute $25 million to $26 million. Immunological reagents represent 69% of Life Science sales, with molecular reagents accounting for 31%. Note that these figures are preliminary and subject to change as Meridian completes its financial statements.
Meridian Bioscience, Inc. (NASDAQ: VIVO) announced the launch of two innovative sample-specific master mixes: Lyo-Ready™ Direct DNA qPCR Stool Mix and Lyo-Ready™ Direct RNA/DNA qPCR Stool Mix on June 20, 2022. These master mixes enhance the molecular detection of DNA and RNA from crude fecal specimens while enabling room temperature stabilization of diagnostic assays. They simplify the development of gastrointestinal diagnostic tests, improving assay accuracy and sensitivity crucial for detecting cancers and other conditions, ultimately accelerating patient diagnosis.
Meridian Bioscience, Inc. (NASDAQ: VIVO) announced its inhibitor-tolerant qPCR master mixes are well-suited for developing diagnostic tests for monkeypox, a virus that has rapidly spread globally since May 2022. Over 250 monkeypox cases have been reported from 17 countries, prompting urgent testing needs. Meridian's master mixes enable accurate detection without further optimization, facilitating faster assay development. The company continues to focus on innovative solutions for diagnostic testing, enhancing assay accuracy and operational efficiency.
Meridian Bioscience, Inc. (NASDAQ: VIVO) announced its participation in the 2022 H.C. Wainwright Global Investment Conference. CEO Jack Kenny will pre-record a presentation, available on their website starting May 24, 2022, and accessible for 90 days. Meridian specializes in diagnostic testing solutions and life science raw materials, serving over 70 countries. Their products address various health concerns, including gastrointestinal infections and blood lead level testing. For more details on the conference, visit www.hcwevents.com/globalconference/.
Meridian Bioscience, Inc. (NASDAQ: VIVO) has launched two innovative master mixes, Lyo-Ready™ Direct DNA LAMP Saliva Mix and Lyo-Ready™ Direct RNA/DNA LAMP Saliva Mix, expanding its isothermal amplification product line. These mixes, designed for saliva and sputum samples, promise high inhibitor tolerance and rapid amplification. Targeting the growing point-of-care diagnostics market, they offer significant cost savings and environmental advantages. The new products aim to enhance assay performance for detecting various infections, including COVID-19, while simplifying development for diagnostic companies.
Meridian Bioscience reported record second-quarter fiscal 2022 results, with consolidated net revenues reaching $111.2 million, a 30% increase year-over-year. The Life Science segment achieved net revenues of $70.1 million, while Diagnostics net revenues rose 29% to $41.1 million. Operating income was $36.1 million, up from $34.2 million in the same period last year. The company raised its fiscal 2022 guidance, projecting net revenues between $330 million and $345 million, citing strong performance but anticipating a decline in Life Science revenues in the latter half of the year.
Meridian Bioscience (NASDAQ: VIVO) announced the acquisition of substantially all assets of EUPROTEIN Inc. through its subsidiary, Meridian Life Science, on April 30, 2022. EUPROTEIN specializes in high-quality bioresearch reagents, particularly human proteins and monoclonal antibodies, which will enhance Meridian's pipeline of immunological reagents. The acquisition is expected to accelerate product development, leveraging EUPROTEIN's expertise and Meridian's global reach, as both companies aim to improve global healthcare outcomes.
Meridian Bioscience (NASDAQ: VIVO) announced preliminary net revenues for Q2 fiscal 2022, expected between $109 million and $113 million, setting a new company record. The Diagnostics segment is projected to generate $40 million to $42 million, while the Life Science segment is anticipated to yield $69 million to $71 million. Key contributors include the earlier-than-expected return of the LeadCare® product line and demand for SARS-CoV-2 rapid antigen tests. Full financial results will be disclosed on May 6, 2022.
Meridian Bioscience (NASDAQ: VIVO) announced the launch of two innovative master mixes for detecting DNA and RNA in crude blood samples, enhancing early cancer detection through non-invasive liquid biopsy. The Lyo-Ready™ Direct DNA qPCR Blood Mix and Lyo-Ready™ Direct RNA/DNA qPCR Blood Mix offer ultra-sensitive detection down to a single copy of DNA, without the need for extraction. This technology stabilizes samples for room-temperature storage, reducing environmental impact and improving patient outcomes. The mixes are set to disrupt current diagnostic practices.