Merit Medical Systems has acquired Biolife Delaware in a deal that will make Biolife a wholly owned subsidiary of Merit. Biolife, which is headquartered in Sarasota, Florida, manufactures patented hemostatic devices under the brand names StatSeal and WoundSeal.
The aggregate transaction consideration, paid in cash and assumption of Biolife liabilities, was approximately $120 million. This strategic acquisition positions Merit to provide clinicians with more products designed to standardize, simplify, and minimize post-procedure care and maintenance.
Many Merit products operate through small openings in the skin that require solutions to stop bleeding, help patients recover, and minimize costly complications. In such cases, StatSeal specifically works with the patient’s blood to rapidly form a protective seal over the procedure site. Adding StatSeal to Merit’s hemostasis portfolio is intended to provide healthcare partners with an additional effective solution that complements a wide range of percutaneous procedures, including interventional radiology and cardiology, dialysis, electrophysiology, biopsy, and drainage.
"We are excited to enhance the portfolio of hemostatic solutions offered to clinicians with the acquisition of Biolife,” said Fred P. Lampropoulos, Merit’s Chairman and Chief Executive Officer. “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. BioLife’s StatSeal and WoundSeal products address an estimated $350M global market opportunity, are clinically validated, and will enhance our ability to deliver comprehensive solutions to our customers. 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.”
