Merit Medical Systems has announced that it has acquired Biolife Delaware in a merger transaction through which Biolife has become a wholly-owned subsidiary of Merit. Biolife manufactures patented haemostatic devices under the brand names StatSeal and WoundSeal.
A press release made by Merit states that the aggregate transaction consideration, paid in cash and assumption of Biolife liabilities, was approximately US$120 million. This strategic acquisition positions Merit to provide clinicians with more products designed to standardise, simplify, and minimise post-procedure care and maintenance, the company adds.
Many Merit products operate through small openings in the skin that require efficient solutions to stop bleeding, help patients recover, and minimise 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 haemostasis 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 haemostatic 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, haemostatic 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 US$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.”
