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MERIDIAN COMPLETES OFFERING OF $10,000,000 IN CONVERTIBLE SUBORDINATED DEBENTURES

 CINCINNATI, Sept. 17 /PRNewswire/ -- Meridian Diagnostics, Inc. (NASDAQ-NMS: KITS), Cincinnati, today announced the completion of the public offering of $10,000,000 principal amount of its 7-1/4 percent Convertible Subordinated Debentures due 2001. All of the Debentures were sold in an offering underwritten by The Ohio Company and Roney & Co.
 The net proceeds of the offering are estimated to be approximately $9.3 million. A portion of the net proceeds will be used to repay the outstanding indebtedness incurred in connection with Meridian's recent acquisition of the MonoSpot(TM) and Monolert(TM) product lines 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 possible acquisitions.
 Meridian has granted the underwriters a 30-day option to purchase up to $1,500,000 principal amount of additional Debentures to cover over- allotments.
 Meridian Diagnostics, Inc. develops, manufactures and markets a variety of immunodiagnostic test kits, purified reagents such as antigens and monoclonal and polyclonal antibodies, and related diagnostic products. The company is a leader in the area of rapid diagnosis of infectious human diseases. All Meridian products are used outside the human body and require little or no special instrumentation or equipment. Domestic and international market segments consist of hospital, commercial and reference laboratories, and physicians' offices. The company has a leading market position in fungal serology, and in parasite and bacterial collection, preservation and transportation systems. The company's shares are traded through NASDAQ-NMS (Symbol: KITS).
 -0- 9/17/93
 /CONTACT: Jerry L. Ruyan of Meridian Diagnostics, 513-271-3700/
 (KITS)


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

KL-AR -- CL005 -- 3080 09/17/93 12:08 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
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