Meridian Bioscience, Inc. (NASDAQ:VIVO) Q4 2019 Earnings Conference Call - Final Transcript
Nov 07, 2019 • 10:00 am ET
products we anticipate will launch in fiscal 2021 and fiscal 2022. We have built a team to focus on our new product development processes and are committed to delivering new products that align with our business strategy around gastrointestinal testing and pediatric point of care. While we anticipate continued business challenges for diagnostics in the near-term we have built a new strong team that is focused on stabilizing this business in the next 12 months to 18 months in building a sustainable growth engine for the business on a long-term basis. Next I'd like to provide some comments on our life science business beginning on slide 22. Progress on our strategic plan for life science is further along than it is for our diagnostic business. Over the last 18 months we have reshaped the cost structure and management team and the results are evident in the significant improvement in profitability as measured by an adjusted operating margin of over 30%.
Our focus is now on commercial execution to move this business to consistent high-single digit revenue growth while also improving operating margin through leverage of higher sales levels. Resident in this strategy is our strong relationships with the major IVD companies around the world which we look to further leverage with our new molecular products. We have built a more profitable life science business that we now look forward to accelerating the growth through improved commercial execution and portfolio selling across our immunoassay and molecular product offerings. Wrapping up here on slide 23 we are well into this and in the midst of transforming Meridian. Over the past two years we make continue -- continual positive progress and we see the next 12 to 18 months as critical to live to delivering on our strategy. We have invested heavily in both -- in our business both financially and in developing our talent. We are leveraging the synergy across our two businesses while each business remains focused on what they need to get done to realize their business potential we will make this happen.
With that said Lisa I'd like to open it up now to any questions that our listeners may have.