Merit Medical Systems Inc. (NSDQ:MMSI) agreed to acquire BioSphere Medical Inc. (NSDQ:BSMD) for about $96 million in cash.
The deal for the Rockland, Mass.-based firm, at roughly $4.38 per share, represents a 54 percent premium over BioSphere’s $2.84 closing price May 12. Shares were up 5.6 percent to $2.00 in late-afternoon trading May 13.
BioSphere makes tiny spheres used to treat uterine fibroids, tumors and deformed blood vessels. Merit Medical chairman and CEO Fred Lampropoulos called the technology “the most advanced embolotherapy technology available today,” saying the acquisition is a strategic move aimed at increasing its point-of-sale offering for interventional radiologists, targeting the uterine fibroid and primary liver cancer markets.
The Top 5 Home Care Franchise Opportunities in the U.S.
The home care industry is booming. As Baby Boomers age and more families seek in-home solutions for loved ones, demand for home care services is at an all-time high.
The deal is expected to close during the third quarter, Jordan, Utah-based Merit said.
The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.
What Are Healthcare Organizations Getting Wrong about Email Security?
A new report by Paubox calls for healthcare IT leaders to dispose of outdated assumptions about email security and address the challenges of evolving cybersecurity threats.
This post appears through the MedCity Influencers program. Anyone can publish their perspective on business and innovation in healthcare on MedCity News through MedCity Influencers. Click here to find out how.