Bioscience Inc. (VIVO) agrees to US$1.5 Bn buyout deal

2 min read | July 09, 2022 12:35 AM AEST | By Mridul Gogoi

Image source: © Mohammedsoliman4 | Megapixl.com

Deal will help Biosensor enter the US market

The company statement said that the price represents a 32% premium on VIVO’s closing price on March 7.

The deal will augment SD Biosensor’s efforts to foray into the US market and provide Meridian expertise to build new products, the companies said.

Demand for testing services grew manifold across the globe after the onset of the Covid-19 pandemic, and companies are looking at long-term strategies as the crisis is gradually waning.

SD Biosensor Chairman, Young Shik Cho said that the blending of Biosensor’s R&D capabilities and mass production know-how with Meridian Bioscience’s US distribution network and expertise in the highly regulated US market will develop compelling synergies.

Bottom line:

The statement released by the companies mentioned that Meridian would still operate as an independent company after the deal is signed. Moreover, its leadership will also remain unaltered.

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