Meridian Signs Letter of Intent to Acquire Bionet

2003-06-25 09:30 ET - News Release

    SEOUL, South Korea--(BUSINESS WIRE)--June 25, 2003--Meridian Co
Ltd. (OTCBB:MRDAF) announced today that the Company has signed a
letter of intent with Bionet, a leading developer, manufacturer and
distributor of Patient Monitoring and Fetal Monitoring systems in
Korea. This letter of intent outlines the acquisition of all the
issued and outstanding equity securities in Bionet. According to Kang
Dong-ju, President of Bionet, the Company's solution portfolio in
bio-signal measurement is the largest in the Korean domestic market.
    "Bionet is growing to be one of the world's best telemedicine
service companies, specializing in Biosignal products," says
Hyeon-seong Myeoung, President of Meridian. The share acquisition will
put Meridian in a stronger position in the remote medical service
market, a market that has potential valued at more than $20 billion
annually according to research from Frost & Sullivan.

    Bionet

    Founded in October 1999, Bionet has a reputation for world-class
quality and technology supported by thorough product care. The Company
is diversifying its business field by developing Pregnancy Care
Systems, Home Care Medical Equipment, and Home-Telemedicine. Bionet
was appointed as Korea's technology revolutionizing company in 2001
and has obtained the approval of FDA, KT mark, ISO 9002, EN46002, CSA,
CB certificate, CE mark, permission to produce and market in China. In
2002 Bionet's total revenues exceeded $5,000,000.

    Meridian

    Meridian Co., Ltd is engaged in the research, development,
manufacture and the sale of medical devices for the Oriental and
Natural/Alternative Medicine markets. The Company's products cross all
boundaries of health care disciplines and are useful in the practice
of medicine, osteopathy, homeopathy, naturopathy, acupuncture and
other complementary disciplines. If stress or imbalance is detected in
a patient, the Company's products can identify the meridian imbalances
in a person's body and assist the practitioner in recommending a
course of treatment or therapy to alleviate the stress or to restore
balance to the body's meridian systems.
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*T
Head Office                         U.S. Office                   
MERIDIAN CO., LTD.                  MERIDIAN AMERICA MEDICAL INC. 
9Fl., Seoil Bldg. 222               11075 Knott Ave.              
Jamsilbon-dong, Songpa-gu           Cypress CA USA 90630          
Seoul, Korea                        Tel: 714/889-3055             
*T

    This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21B
of the Securities Exchange Act of 1934. Any statements that express or
involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, goals, assumptions or future
events or performance are not statements of historical fact and may be
"forward looking statements." Forward looking statements are based on
expectations, estimates and projections at the time the statements are
made that involve a number of risks and uncertainties which could
cause actual results or events to differ materially from those
presently anticipated.

    --30--KT/na*

    CONTACT: Meridian Co Ltd.
             Craig Auringer, 866/802-1222
             Email: [email protected]

    KEYWORD: CALIFORNIA SOUTH KOREA INTERNATIONAL ASIA PACIFIC
    INDUSTRY KEYWORD: MEDICAL MEDICAL DEVICES MERGERS/ACQ
    SOURCE: Meridian Co Ltd.

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