Meridian Bioscience (VIVO) to Acquire Urea Breath Test for H. pylori from Otsuka America Pharmaceutical, Inc.
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Meridian Bioscience, Inc., (Nasdaq: VIVO) a leading global provider of diagnostic testing solutions and life science raw materials, announced today that it signed a definitive agreement to acquire the North American BreathTek® business from Otsuka America Pharmaceutical, Inc. for $20 million in cash. The transaction is expected to close in Meridian’s fiscal fourth quarter.
With this acquisition, Meridian will assume the customer relationships in North America to supply BreathTek®, a urea breath test for the detection of Helicobacter pylori. The acquisition is expected to add more than $20 million of annual revenue, strengthening Meridian’s position as a leading provider of gastrointestinal diagnostic solutions, and is expected to be accretive to earnings and cash immediately.
Jack Kenny, Chief Executive Officer, commented, “This is another example of our strategic use of cash generated during the pandemic to further position the diagnostics segment for sustainable growth. We look forward to supporting Otsuka’s customers with the gastrointestinal expertise and world class customer service Meridian is known for.”
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