Meridian Bioscience, Inc. (VIVO) Completes Acquisition Of O.E.M. Concepts, Inc. And Comments On New Growth Opportunities
10/19/2005 5:12:36 PM
CINCINNATI--(BUSINESS WIRE)--Feb. 1, 2005--Meridian Bioscience, Inc., (NASDAQ:VIVO) today announced that it has completed the purchase of O.E.M. Concepts, Inc., highlights include:
-- purchase price of $6.0 million in cash and a performance based earnout opportunity of $2.3 million over a four-year period, as previously reported;
-- earnings accretion of between $0.01 and $0.02 for the balance of fiscal 2005 and $0.04 to $0.06 for fiscal 2006 with continued growth and higher earnings contributions anticipated;
-- O.E.M.'s management team to remain with the Company thereby enhancing Meridian's Life Science business;
-- proprietary know-how and technological capabilities that fit well with and add to Meridian's Viral Antigens and BIODESIGN International subsidiaries; and
-- complements Meridian's entry into the important and growing market for products addressing the bioterrorism threat and related U.S. Government business.