SD Biosensor and SJL Partners have acquired Meridian Bioscience, a provider of diagnostic testing services.

Under the terms of the agreement, Meridian shareholders will receive $34.00 per share in cash.

John C. McIlwraith, Meridian’s chairman, said, “This announcement follows an extensive and deliberate review of Meridian’s growth and value creation opportunities in the context of the broader macroeconomic and industry environment. In consultation with external financial advisors and following outreach to potential strategic and financial partners, the board unanimously agreed that this transaction represents the best path forward for Meridian shareholders, providing them with an immediate, compelling and certain value while enabling the Company to benefit from SDB’s and SJL’s capital support, expertise and experience.”