SD Biosensor and SJL Partners Complete Transaction to Acquire Meridian Bioscience

Rhea-AI Summary

On January 31, 2023, Meridian Bioscience (VIVO) announced the completion of its acquisition by a consortium including SD Biosensor and SJL Partners. Under the merger terms, Meridian shareholders will receive $34.00 per share in cash. Following the acquisition, Meridian will cease trading on the NASDAQ and continue operations as an independent entity in Cincinnati, Ohio. This acquisition positions Meridian for potential growth under new ownership, enabling further development in the diagnostic testing solutions market.

Positive

• Acquisition completed at $34.00 per share, providing shareholders with immediate cash return.
• Continued independent operations may lead to strategic advancements in diagnostic solutions.

Negative

• Delisting from NASDAQ may limit access to capital for future growth.
• Potential integration challenges with new ownership could affect operational efficiency.

CINCINNATI and SEOUL, South Korea, Jan. 31, 2023 /PRNewswire/ -- Meridian Bioscience, Inc. (NASDAQ: VIVO), a leading global provider of diagnostic testing solutions and life science raw materials, and SD Biosensor, Inc. ("SDB") (KOSE: A137310) and SJL Partners LLC ("SJL") (collectively, the "Consortium"), announced today that they have completed the transaction to acquire Meridian.

Under the terms of the merger, Meridian shareholders have the right to receive $34.00 per share in cash. Meridian stock will no longer be traded on the NASDAQ Global Select Market. Meridian will continue to operate as an independent entity, under new ownership, headquartered in Cincinnati, Ohio.

About SD Biosensor, Inc.
SD Biosensor, Inc., with its slogan 'Beginning of all things that protect lives,' is a global in-vitro diagnostics company that contributes to improving everyone's quality of life by diagnosing diseases quickly and accurately. SD Biosensor is a Total Solution Provider in the IVD industry that develops and researches innovative diagnostic platforms. For further information, refer to the official website at https://www.sdbiosensor.com/.

About SJL Partners
SJL is a Korea-based private equity investment manager uniquely focused on cross-border partnership investments with market-leading strategic companies to support their inorganic growth in international markets. SJL's portfolio includes investments into Momentive Performance Materials, a U.S.-based global leader in specialty silicones and silicone derivatives, Momentive Technologies, a leader in fused quartz and ceramic solutions, and Nexeon, a U.K.-based technology leader in anode materials for rechargeable batteries. Additional information is available at www.sjlpartners.com.

About Meridian Bioscience, Inc.
Meridian is a fully integrated life science company that develops, manufactures, markets, and distributes a broad range of innovative diagnostic products. We are dedicated to developing and delivering better solutions that give answers with speed, accuracy, and simplicity that are redefining the possibilities of life from discovery to diagnosis. Through discovery and development, we provide critical life science raw materials used in immunological and molecular tests for human, animal, plant, and environmental applications. Through diagnosis, we provide diagnostic solutions in areas including gastrointestinal and upper respiratory infections and blood lead level testing. We build relationships and provide solutions to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers, and biotech companies in more than 70 countries around the world. Meridian's website address is www.meridianbioscience.com.

Contact: 
Charlie Wood
Vice President – Investor Relations
Meridian Bioscience, Inc.
Phone: +1 513.271.3700
Email: mbi@meridianbioscience.com

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SOURCE Meridian Bioscience, Inc.

FAQ

What is the acquisition price for Meridian Bioscience (VIVO)?

Meridian shareholders will receive $34.00 per share in cash.

When was the acquisition of Meridian Bioscience completed?

The acquisition was completed on January 31, 2023.

Who acquired Meridian Bioscience (VIVO)?

Meridian was acquired by a consortium including SD Biosensor and SJL Partners.

What will happen to Meridian's stock after the acquisition?

Meridian's stock will no longer be traded on NASDAQ following the acquisition.

Where will Meridian Bioscience be headquartered after the acquisition?

Meridian will continue to be headquartered in Cincinnati, Ohio.