Merit Medical to buy BioSphere for $96 million

May 13, 2010 by MassDevice staff

Utah-based Merit Medical agrees to acquire BioSphere Medical Inc. for $96 million in cash.

BSMD, MMSI logos

Merit Medical Systems Inc. (NSDQ:MMSI) agreed to acquire BioSphere Medical Inc. (NSDQ:BSMD) for about $96 million in cash.

The deal for the Rockland, Mass.-based firm, at roughly $4.38 per share, represents a 54 percent premium over BioSphere's $2.84 closing price May 12. Shares were up 5.6 percent to $2.00 in late-afternoon trading May 13.

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