Meridian Bioscience Inc. consolidated its organizational structure into two business units to cut costs.
The diagnostics business unit consists of the molecular, core and point of care sectors.
The life science business unit comprises the company's immunological reagents and molecular reagents.
Meridian Bioscience is a Cincinnati-based life science company that develops and markets diagnostic test kits for various gastrointestinal, viral, respiratory and parasitic infectious diseases.
Each unit will have its own sales and marketing team for its product portfolio as well as the support of a global corporate program.
Meridian will reinvest the resulting savings from the reorganization, with an emphasis on bolstering its research and development spending, business development, and customer service.
"This new model will cultivate Meridian's existing strengths while leveraging relationships across each of the business units, drive increased efficiency and cost savings and ultimately, increase shareholder value," CEO Jack Kenny said.