The Medical Device Business Journal — Medical Device News & Articles | MassDevice
BioSphere Medical Inc. (NSDQ:BSMD) shareholders added to their attempt to block a proposed, $96 million merger with Merit Medical Systems Inc. (NSDQ:MMSI).
In a class action suit, initially brought against the company’s board, the shareholders are attempting to get an injunction against the Merit’s purchase of BioSphere.
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.
