Owners
Located in Cincinnati, Ohio, Meridian Bioscience was founded in 1976. It develops and develops diagnostic tests and reagents, as well as biological substances used by pharmaceutical and biotechnology companies.
History
2022: SD Biosensor bought Meridian Bioscience for $1.53 billion
On July 7, 2022, SD Biosensor and SJL Partners announced the acquisition of Meridian Bioscience for $1.53 billion. The transaction will be paid by buyers' own funds, that is, without attracting their shares.
SD Biosensor, a diagnostic company headquartered in South Korea, will form a new subsidiary with private equity firm SJL Partners as part of the deal, Meridian said. None of the buying companies came forward with their statements about the deal.
Meridian shares by the beginning of trading on July 7, 2022 began to cost $33.21. The acquisition price of the company represents a 32% premium over the value of the company's securities at the time the transaction was announced.
 | The deal will enhance our ability to serve customers COVID-19 in the face of declining demand for tests and develop new products, taking into account SDB's industry expertise and additional offerings, Meridian chairman John McIlvraith said in a statement. He added that the sale will contribute to further growth in the field of diagnostics. |  |
SDB Board Chairman Dr. Young Shik Cho said in the same statement that Meridian would be "a great partner to accelerate our entry into the American IVD market." The company plans to leverage SD Biosensor's research, development and "mass production know-how" capabilities, as well as Meridian's distribution network USA in and its "experience in the regulated U.S. market."
William Blair analysts believe Meridian could benefit from the scale of SD Biosensor, whose revenue rose to $4 billion at the peak of the pandemic. SD Biosensor went public in 2021, indicating it plans to spend some of its revenue on acquisitions.[1]
Notes
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