Opting to go it alone, Strategic Diagnostics Inc. (SDI) has given powerhouse investment bank Goldman Sachs the boot. And don’t count on an immediate sale of the analytic research company, cautioned its chief financial officer. Last July, SDI retained Goldman to assist it in exploring strategic alternatives. In a cryptic May 30 release, Richard Birkmeyer, the chief executive officer of SDI, acknowledged that “no specific transaction” resulted from the Goldman engagement, but said significant value had been derived from it. Birkmeyer did not return a call seeking comment, but Arthur Koch, SDI’s CFO, said the process afforded SDI, a manufacturer of diagnostic tests, the opportunity to strut its stuff before a number of interested parties.
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