Meridian Bioscience Comments on DOJ Announcement Regarding Former Executives of Magellan Diagnostics

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Apr 05, 2023, 11:20 ET

CINCINNATI, April 5, 2023 /PRNewswire/ -- Meridian Bioscience, Inc. learned today that certain former employees of Magellan, a subsidiary of Meridian acquired in March 2016, were charged by the United States Attorney for the District of Massachusetts for alleged violations of certain federal laws. Meridian and its subsidiaries are not defendants in the action.

As previously disclosed, Meridian and Magellan have cooperated extensively with federal authorities in the investigation that led to these charges, and we have been and will continue to engage in resolution discussions with the Department of Justice. We have previously noted that we expect a loss to be probable in connection with the resolution, and we have reserved, as of calendar year-end 2022, an amount we believe to be a reasonable estimate of such loss.

All of the Company's current products from the LeadCare line are FDA cleared and will remain available for clinical use. Meridian intends to continue to cooperate with the Department of Justice with respect to its investigation. Due to the pending litigation and ongoing discussions with the DOJ, we will not comment further at this time.

About Meridian Bioscience, Inc.

Meridian is a fully integrated life science company that develops, manufactures, markets, and distributes a broad range of innovative diagnostic and life science products. We are dedicated to developing and delivering better solutions that give answers with speed, accuracy, and simplicity that are redefining the possibilities of life from discovery to diagnosis. Through discovery and development, we provide critical life science raw materials used in immunological and molecular tests for human, animal, plant, and environmental applications. Through diagnosis, we provide diagnostic solutions in areas including gastrointestinal and upper respiratory infections and blood lead level testing. We build relationships and provide solutions to hospitals, reference laboratories, research centers, veterinary testing centers, physician offices, diagnostics manufacturers, and biotech companies in more than 70 countries around the world. Meridian is a privately held company headquartered in Cincinnati, Ohio. Meridian's website address is www.meridianbioscience.com.

Contact:

Charlie Wood
Vice President - Investor Relations
Meridian Bioscience, Inc.
Phone: 513.271.3700
Email: [email protected]

SOURCE Meridian Bioscience, Inc.