Merit Medical Systems has acquired US-based Biolife Delaware, a manufacturer of haemostatic devices, in a $120m deal.
The transaction value was paid in cash alongside the assumption of Biolife's liabilities.
The acquisition enhances Merit's offerings, providing clinicians with products aimed at streamlining post-procedure care.
Biolife's haemostatic devices are manufactured under the StatSeal and WoundSeal brand names.
Merit's products will benefit from the addition of StatSeal, which claims to quickly form a protective seal over the procedure area.
The integration of StatSeal is expected to complement a variety of percutaneous procedures, spanning several medical specialities.
Merit anticipates that the assets acquired, which generated around $15m in revenue over the year ending 31 December 2024, will contribute between $10m and $11m in revenue from the effective merger date of 20 May 2025 to the end of the year.
However, the acquisition is expected to dilute Merit's non-generally accepted accounting principles (GAAP) net income and earnings per share, considering the purchase costs and excluding certain transaction-related expenses.
Biolife's product line includes a powder containing potassium ferrate and a hydrophilic polymer as the ingredients.
The products work independently of clotting mechanisms for sealing the wounds and the vascular access region.
Piper Sandler & Co provided financial advisory services to Merit for the acquisition.
Parr Brown Gee & Loveless and Nelson Mullins Riley & Scarborough served as legal advisers to Merit and Biolife, respectively.
Merit Medical Systems CEO and chairman Fred Lampropoulos said: “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 $350m global market opportunity, are clinically validated, and will enhance our ability to deliver comprehensive solutions to our customers.”
Before this development, Health Canada approved Merit Medical’s Wrapsody cell-impermeable endoprosthesis device to help physicians in prolonging functional vascular access in haemodialysis patients.
