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MERIDIAN ANNOUNCES FILING OF REGISTRATION STATEMENT FOR PROPOSED OFFERING OF COMMON STOCK

 CINCINNATI, June 22 /PRNewswire/ -- Meridian Diagnostics, Inc. (NASDAQ/NMS: KITS), Cincinnati, today announced that it has filed a Registration Statement with the Securities and Exchange Commission covering the proposed sale of one million shares of Common Stock by the company and one million shares to be sold by certain shareholders. A portion of the net proceeds of the offering to be received by the company will be used to repay $3.1 million of indebtedness incurred in connection with Meridian's recent acquisition of the MONOSPOT(TM) and MONOLERT(TM) product line from Ortho Diagnostic Systems Inc., a subsidiary of Johnson & Johnson. The balance of the proceeds will be used for capital improvements and general corporate purposes, including other acquisitions.
 The offering will be made by a group of underwriters led by Prudential Securities and The Ohio Company. Meridian and the selling shareholders will grant to the underwriters an option to purchase from them 300,000 additional shares of Common Stock to cover over-allotments.
 Meridian Diagnostics, Inc. develops, manufactures and markets a diverse line of disposable immunodiagnostic test kits used for the rapid diagnosis of infectious diseases. The company's products aid in the diagnosis of such common medical conditions as gastrointestinal infections, mononucleosis, urinary tract infections, respiratory infections and strep throat. The company's shares are traded through NASDAQ/NMS (Symbol: KITS).
 A Registration Statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of the preliminary prospectus relating to the Common Stock can be obtained from Prudential Securities Incorporated, One Seaport Plaza, New York, N.Y. 10292, Attn.: Prospectus Department; and The Ohio Company, 155 E. Broad St., 20th Floor, Columbus, Ohio 43215, Attn.: Corporate Finance Department.
 -0- 6/22/93
 /CONTACT: Jerry L. Ruyan of Meridian Diagnostics, Inc., 513-271-3700/
 (KITS)


CO: Meridian Diagnostics, Inc. ST: Ohio IN: MTC SU: OFR

KL -- CL021 -- 4704 06/22/93 16:58 EDT
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Publication:PR Newswire
Date:Jun 22, 1993
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