Merit Medical Systems Acquires Biolife Delaware For About $120 Mln; Confirms Annual Outlook

(RTTNews) - Merit Medical Systems, Inc. (MMSI), a healthcare technology company, Tuesday said that it has acquired Biolife Delaware, L.L.C. for about $120 million in cash.

Through the acquisition, Biolife, a maker of hemostatic devices, has become the wholly-owned subsidiary of Merit.

The transaction is expected to be slightly dilutive to the company's full-year adjusted profitability given the partial-year contribution.

Additionally, the company has reiterated its full-year outlook.

"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 $350 million global market opportunity, are clinically validated, and will enhance our ability to deliver comprehensive solutions to our customers," said Fred P. Lampropoulos, Merits Chairman and Chief Executive Officer.