Sdbiosensor

SD Biosensor, Inc. is a Korea-based in vitro diagnostics (IVD) company engaged in immunochemical diagnosis, molecular diagnosis, point-of-care testing (POCT) and self-monitoring blood glucose measurement. Its research, development and commercial activities cover rapid immunochemical tests, immunochemical fluorescence assays, molecular diagnostic products, enzyme immunoassay (ELISA) products and related instruments, sold in Korea and export markets.

The company's product portfolio is organized into branded platforms: STANDARD Q (rapid tests, including a COVID-19 antigen test and an HIV/Syphilis/HBsAg triple screening test), STANDARD F (multi-parametric random-access fluorescence immunoassay analyzers with assays such as cardiac Troponin I, syphilis antibody and C. difficile toxin/GDH), STANDARD E (ELISA for mass screening), STANDARD M (the M10 point-of-care molecular/real-time PCR system with assays for C. difficile, vanA/vanB, MRSA/SA, MTB/NTM, MTB-RIF/INH, high-risk HPV, CT/NG, an STI panel, Flu/RSV/SARS-CoV-2 and sample pretreatment kits), STANDARD i (i1000 and i2000 chemiluminescence immunoassay analyzers with a biomarker menu spanning thyroid, fertility and reproductive hormones, cardiac markers, tumor markers, vitamins and cortisol), and blood glucose monitoring systems (BGMS).

The company reports segment results across IVD/molecular, POCT blood glucose and diagnostic kits/equipment lines, and geographic revenue across the Americas, Europe, Asia, India, Africa and South Korea. It owns U.S. subsidiary Meridian Bioscience, whose acquisition gives rise to intangible-asset amortization recognized in operating results.

Business model

SD Biosensor develops, manufactures and sells diagnostic reagents, test kits and analyzer instruments, distributing them in the domestic Korean market and to overseas markets through its own subsidiaries and distribution channels. Revenue derives from diagnostic kits and equipment, with an installed-base model in which platform analyzers (for example STANDARD M10, STANDARD i1000/i2000 and STANDARD F) drive recurring consumable assay sales.

Sales of diagnostic test kits, assay reagents and diagnostic instruments, reported by division (IVD/molecular, POCT blood glucose, diagnostic kits/equipment) and by region. Public procurement channels also contribute, including supply for the World Health Organization and government tenders and inclusion of M10 MTB-RIF/INH on The Global Fund procurement list.

Traction

First-half 2026 consolidated sales reached 380 billion won ($277 million), up 28.2 billion won year over year, with EBITDA of 40.9 billion won (up about 24%) and net profit of 38.6 billion won across two consecutive profitable quarters. The operating loss narrowed to 18.9 billion won, improving by about 16.3 billion won, reflecting Meridian Bioscience acquisition-related intangible amortization; excluding that non-cash item the company reported an adjusted operating profit. STANDARD M10 first-half sales were 22 billion won, up roughly 87% year over year (11.2 billion won in Q1 and 10.8 billion won in Q2), driven by tuberculosis assays. Overseas subsidiaries grew, with India at 45.9 billion won (+31%), Indonesian manufacturing and sales units up 26% and 79%, Panama up about 14% with operating profit in both quarters, and Spain profitable for a second consecutive quarter.

Latest developments

In August 2026 the company reported first-half results showing a second consecutive quarterly net profit and a debt-to-equity ratio reduced to 20.6% from 38.8% at the end of the prior year, after repaying exchangeable bonds and further external borrowings and cutting interest expense by about 17.7 billion won. Other recent items include a KRW117.3 billion loan extended to subsidiary Meridian Bioscience (July 2026), cancellation of 7.3 billion won of treasury shares (March 2026), a US$21 million investment announcement to bring molecular diagnostic testing closer to patients in low- and middle-income countries, inclusion in the WHO's official recommendation for latent tuberculosis testing, and planned participation in WHX Nairobi 2026.