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MERIDIAN PURCHASES PRODUCT LINE FROM ORTHO DIAGNOSTIC SYSTEMS INC. A JOHNSON & JOHNSON COMPANY

 CINCINNATI, June 17 /PRNewswire/ -- Meridian Diagnostics, Inc. (NASDAQ/NMS: KITS) today announced the purchase of the MonoSpot(TM) and Monolert(TM) infectious mononucleosis product lines of Ortho Diagnostic Systems Inc., a Johnson & Johnson (NYSE: JNJ) company, for $3.1 million cash and additional payments for inventory and future payments based on product sales. Under the terms of the acquisition Meridian acquired equipment, inventory, patents, trademarks, customer lists, a non- competition agreement, procedures and license rights relating to the products.
 The product lines being acquired represent approximately $4 million of the estimated $16 million world-wide annual market for infectious mononucleosis tests. The addition of these products, combined with Meridian's current product line, will give Meridian the second largest worldwide marketshare for mononucleosis testing.
 Jerry L. Ruyan, chief executive officer, said, "This acquisition fits with our stated goals of finding products that fit strategically within our existing sales, marketing and distribution systems and which are expected to produce profit margins consistent with those we currently enjoy."
 William J. Motto, chairman of Meridian Diagnostics, further stated, "This acquisition provides the company with an extensive array of assays for the diagnosis of infectious mononucleosis and offers our customers a variety of product formats from which to choose."
 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 is the leader in parasite and bacterial collection, preservation and transportation systems. The company's shares are traded through NASDAQ/NMS (symbol: KITS).
 -0- 6/17/93
 /CONTACT: Jerry L. Ruyan, chief executive officer, Meridian Diagnostics, Inc., 513-271-3700/
 (KITS JNJ)


CO: Meridian Diagnostics, Inc.; Ortho Diagnostic Systems Inc. ST: Ohio IN: MTC SU: TNM PDT

BM -- CL016 -- 3202 06/17/93 15:01 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
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