Meridian Bioscience Realigns Business Structure - Quick Facts

(RTTNews) - Meridian Bioscience, Inc. (VIVO) announced the realignment of its business structure. Effective immediately, the company will conduct operations through two Business Units, Diagnostics and Life Science, both of which will be supported by a global corporate team. Corporate functions have been redefined under the new organizational structure. For the time being, Jack Kenny will act as the Executive Vice President of the Diagnostics Business Unit, in addition to his role as CEO. Lourdes Weltzien has been promoted to Executive Vice President, Life Science.

The company said the savings from the realignment will be fully reinvested back into the business, with an emphasis on bolstering R&D spending, business development, and customer-facing roles. As a result of the reinvestment, the realignment will have no impact on fiscal 2018 non-GAAP guidance.