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 CINCINNATI, Aug. 27 /PRNewswire/ -- Meridian Diagnostics, Inc. (NASDAQ-NMS: KITS) announced that it is today filing a Registration Statement with the Securities and Exchange Commission covering the proposed sale of $8,000,000 principal amount of Convertible Subordinated Debentures. A portion of the net proceeds of the offering will be used to repay the 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 other acquisitions.
 The offering will be underwritten by The Ohio Company and Roney & r?idian will grant to the underwriters an option to purchase an additional $1,200,000 principal amount of the Convertible Debentures 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.
 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 Convertible Debentures can be obtained from The Ohio Company, 155 E. Broad St., 20th Floor, Columbus, Ohio 43215, Attention: Corporate Finance Department; and Roney and Co., One Griswald, Detroit, Mich. 48226.
 -0- 8/27/93
 /CONTACT: Jerry L. Ruyan of Meridian Diagnostics, 513-271-3700/

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

AR -- CL002 -- 6525 08/27/93 09:54 EDT
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Publication:PR Newswire
Date:Aug 27, 1993

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