Merit Medical acquires fellow interventional radiology vendor Biolife for $120M

Merit Medical Systems Inc. on Tuesday announced plans to acquire fellow interventional radiology vendor Biolife Delaware for $120 million. 

Founded in 1987 and based in South Jordan, Utah, Merit offers a suite of disposable products for minimally invasive procedures, such as syringes, stents, catheters and balloons. Biolife, meanwhile, manufactures hemostatic devices under the brand names StatSeal and WoundSeal, used to repair surgical sites after IR procedures.

Merit Medical said these products will complement its current portfolio while also adding $18 million in new annual revenue. 

“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,” Fred P. Lampropoulos, Merit’s chairman and CEO, said in a statement May 20, adding that StatSeal and WoundSeal address an estimated $350 million global market opportunity. 

Biolife was founded in 1999 and is headquartered in Sarasota, Florida. After closing the deal, the company will become a wholly owned subsidiary of Merit Medical, which is paying cash for the “strategic” acquisition and assuming Biolife’s liabilities. 

StatSeal works with a patient’s blood to rapidly form a protective seal over interventional procedure sites. Merit believes adding this product complements a range of percutaneous procedures across interventional radiology and cardiology, dialysis, and electrophysiology. Lampropoulos and colleagues estimate that the acquired assets will generate upward of $11 million from the merger’s effective date of May 20 through the year-end.