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Meridian Bioscience Reports Completion of 7% Convertible Debentures Redemption

January 18, 2005 at 10:03 AM EST

CINCINNATI--(BUSINESS WIRE)--Jan. 18, 2005--Meridian Bioscience, Inc., Cincinnati, Ohio (NASDAQ:VIVO) today announced that its call for the redemption of $4.0 million in principal amount of its outstanding 7% Convertible Subordinated Debentures Due September 1, 2006, was successfully completed on January 14, 2005, as planned. The result of the redemption call was that $3.4 million was converted into 211,000 shares of the Company's underlying common stock and $603,000 was redeemed at par value plus accrued interest for cash.

This redemption was the second redemption of the 7% Convertible Debentures and is consistent with the Company's previously announced plans and intentions to make additional redemptions, at par value, prior to the maturity date of the 7% Convertible Debentures. The first redemption in the amount of $4 million was completed in March 2004. Following this redemption, there remains approximately $4.9 million principal amount of the 7% Convertible Debentures outstanding. Holders of the remaining outstanding 7% Convertible Debentures may convert their debentures into shares of common stock at $16.09 per share anytime before the maturity date.

FORWARD LOOKING STATEMENTS

The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements accompanied by meaningful cautionary statements. Except for historical information, this report contains forward-looking statements which may be identified by words such as "estimates", "anticipates", "projects", "plans", "seeks", "may", "will", "expects", "intends", "believes", "should" and similar expressions or the negative versions thereof and which also may be identified by their context. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company assumes no obligation to publicly update any forward-looking statements. These statements are subject to various risks, uncertainties and other factors that could cause actual results to differ, including, without limitation, the following: Meridian's continued growth depends, in part, on its ability to introduce into the marketplace enhancements of existing products or new products that incorporate technological advances, meet customer requirements and respond to products developed by Meridian's competition. While Meridian has introduced a number of internally developed products, there can be no assurance that it will be successful in the future in introducing such products on a timely basis. Ongoing consolidations of reference laboratories and formation of multi-hospital alliances may cause adverse changes to pricing and distribution. Costs and difficulties in complying with laws and regulations administered by the United States Food and Drug Administration can result in unanticipated expenses and delays and interruptions to the sale of new and existing products. Changes in the relative strength or weakness of the U.S. dollar can change expected results. One of Meridian's main growth strategies is the acquisition of companies and product lines. There can be no assurance that additional acquisitions will be consummated or that, if consummated, will be successful and the acquired businesses successfully integrated into Meridian's operations.

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, and respiratory infections. Meridian diagnostic 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 along with proteins and other biologicals used by biopharmaceutical companies engaged in research for new drugs and vaccines. The Company markets its products to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices and diagnostics manufacturers 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., Cincinnati
John A. Kraeutler, 513-271-3700

SOURCE: Meridian Bioscience, Inc.