Merit Medical Systems (Nasdaq:MMSI) announced today that it acquired hemostatic device manufacturer Biolife Delaware.
Through the merger transaction, Biolife becomes a wholly-owned subsidiary of Merit. The Sarasota, Florida–based company brings with it unique, patented devices branded as StatSeal and WoundSeal.
South Jordan, Utah-based Merit Medical paid approximately $120 million in cash to complete the deal. The company says the deal enables it to provide clinicians with more products designed to standardize, simplify and minimize post-procedure care and maintenance.
Merit says many of its products operate through small openings in the skin. These require efficient solutions to stop bleeding, help with recovery and minimize costly complications. In such cases, StatSeal specifically works with the blood to rapidly form a protective seal over the procedure site.
The company says adding StatSeal to its hemostasis portfolio can provide healthcare partners with an additional effective solution that complements a wide range of percutaneous procedures. These include interventional radiology and cardiology, dialysis, electrophysiology, biopsy and drainage.
Financially, Merit Medical expects the merger to prove slightly dilutive to its 2025 non-GAAP profitability. Despite this, the company reaffirmed its full-year financial guidance.
“We are excited to enhance the portfolio of hemostatic solutions offered to clinicians with the acquisition of Biolife. The acquisition provides effective, differentiated, hemostatic solutions for all percutaneous devices with a broad range of clinical applications including vascular closure and indwelling catheter bleeding complications,” said Fred P. Lampropoulos, Merit chair and CEO. “Moreover, with Merit’s resources and expertise, we believe we are well positioned to further develop and expand the reach of these product lines, ultimately benefiting patients and healthcare providers globally.”
