Meridian Bioscience Added to Russell 2000 Index
CINCINNATI--(BUSINESS WIRE)--July 1, 2003--Meridian Bioscience, Inc., (Nasdaq:VIVO) today announced that it has been added to the Russell 2000(R) Index of small-capitalization stocks. The Russell Indexes were jointly developed by the Frank Russell Company and the New York Futures Exchange to represent investment-grade equities.
Meridian's inclusion in the Russell Index is a result of the Frank Russell Company's annual assessment and reconstitution of its U.S. equity indexes. Final additions and deletions to the Indexes were announced today and are listed on www.russell.com.
"Meridian's growth in revenues and earnings, plus our long standing dividend history, has resulted in significant appreciation in shareholder value and increased daily trading volume. Our inclusion in the Russell Indexes further enhances our visibility," commented William J. Motto, Chairman and Chief Executive Officer.
Annual reconstitution of the Russell Indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000(R) Index. The largest 1,000 companies in the ranking are designated the Russell 1000(R) Index, while the remaining 2,000 companies make up the small-cap Russell 2000 Index. Inclusion in Russell indexes, which are used as benchmarks for both passive and active investment strategies, is determined strictly by market capitalization and style attributes.
Meridian is a fully integrated life science company that manufactures, markets and distributes a broad range of innovative diagnostic test kits, purified reagents and related products and offers biopharmaceutical enabling technologies. Utilizing a variety of methods, these products provide accuracy, simplicity and speed in the early diagnosis and treatment of common medical conditions, such as gastrointestinal, viral, urinary and respiratory infections. All Meridian products are used outside of the human body and require little or no special equipment. The Company's products are designed to enhance patient well-being while reducing the total outcome costs of healthcare. Meridian has strong market positions in the areas of gastrointestinal and upper respiratory infections, serology, parasitology and fungal disease diagnosis. In addition, Meridian is a supplier of rare reagents and specialty biologicals. The Company markets its products to hospitals, reference laboratories, research centers, veterinary testing centers and physician offices in more than 60 countries around the world. The Company's shares are traded through Nasdaq's National Market, symbol VIVO. Meridian's website address is www.meridianbioscience.com.
CONTACT: Meridian Bioscience, Inc.
John A. Kraeutler, 513/271-3700
SOURCE: Meridian Bioscience, Inc.