Seoul [South Korea], July 11 (ANI/Global Economic): SD Biosensor said on the 8th of July that it will acquire Meridian Bioscience, the US diagnostic manufacturer, for about 2 trillion won along with SJL Partners, a Korean private equity fund (PEF).
This is the largest merger and acquisition (M&A), in which a domestic pharmaceutical company acquires a foreign company, SD Biosensor said.
SD Biosensor and SJL Partners will acquire a 100 per cent stake in Meridian. SD Biosensor will hold a 60% stake and SJL Partners a 40 per cent stake.
SJL Partners consists of US market experts from JP Morgan, and will help SD Biosensor successfully enter the US market after the acquisition, SD Biosensor explained.
The two companies will jointly make an investment in a U.S. subsidiary to merge with Meridian.
Through the acquisition, SD Biosensor will speed up its entry into global markets, including the U.S. market, based on Meridian’s distribution network in North America. Meridian’s experience in FDA licensing is also expected to play a key role to expand SD Biosensor’s global business. (ANI/Global Economic)
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