US company Meridian Bioscience has acquired Bioline for £14.9 million.

US company Meridian Bioscience has acquired Bioline for $23.3 million (£14.9 million).

London-based Bioline was established in 1992. The company produces enzymes and biological products used in genetic testing and research, and has it’s own team of research scientists.

As part of the deal, Meridian has also acquired Bioline’s US, German and Australian divisions.

Ohio-based Meridian manufactures diagnostic kits and antibodies for the pharmaceuticals market, and has offices in Belgium, France, Italy and The Netherlands. In 2009 the company, which has 423 employees, declared net profits of $32.8 million on sales of $148.3 million.

The transaction is part of Meridian’s strategy of making new partnerships and acquisitions.

Michael Anderson of the law firm Berwin Leighton Paisner advised Meridian on the deal.