![]() ![]() ![]() market, SDB's broad product portfolio and scale manufacturing expertise, and SJL's execution experience and partnership model will further position the Company for long-term success."Ĭompletion of the transaction is not contingent on any financing condition. The combination of Meridian's product commercialization team with deep expertise in the regulated U.S. Steve Sukjung Lim, Chairman and Managing Partner of SJL, said, "We are eager to begin this partnership with the Meridian team. market, and SJL Partners' strong management expertise will enable compelling synergies." distribution network and expertise in the regulated U.S. I believe that SD Biosensor's R&D capabilities and mass production know-how, Meridian Bioscience's U.S. Young Shik Cho, Chairman of SDB, representing the Consortium said, "We are pleased to be a family with Meridian Bioscience as a great partner for accelerating our entry into the U.S. ![]() I look forward to working with SDB and SJL and the rest of our Meridian team to build long-term strength and drive further growth in the diagnostics space."ĭr. Current and prospective employees around the world will also benefit from an even stronger Meridian supported by SDB's and SJL's financial backing and experience. "In addition to delivering immediate and significant value to our shareholders, we believe the transaction will enhance our ability to serve customers as we navigate the decline in COVID-19 testing demand and develop new products with the benefit of SDB's industry expertise and complementary offerings. "We are excited to announce this new chapter for Meridian after the many years spent transforming the Company for sustainable growth," commented Jack Kenny, Meridian's Chief Executive Officer. In consultation with external financial advisors and following outreach to potential strategic and financial partners, the Board unanimously agreed that this transaction represents the best path forward for Meridian shareholders, providing them with immediate, compelling and certain value, while enabling the Company to benefit from SDB's and SJL's capital support, expertise and experience." McIlwraith, Meridian's Chairman, said, "This announcement follows an extensive and deliberate review of Meridian's growth and value creation opportunities in the context of the broader macroeconomic and industry environment. ![]()
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