Manatee medical manufacturer acquired for $120 million

A Manatee County medical manufacturer has been acquired for $120 million. Merit Medical Systems, traded on the Nasdaq under the ticker symbol MMSI, purchased Biolife Delaware LLC, a privately traded company that makes patented hemostatic devices under the brand names StatSeal and WoundSeal. As a result of the deal, Biolife will become a subsidiary of Merit, according to a statement. 

Founded in 1999, Biolife makes health care and first-aid products consisting of a powder with two main ingredients, potassium ferrate and a hydrophilic polymer, that help seal wounds or vascular access sites while accelerating hemostasis (stopping bleeding). The company is based on 25th Court East, near the intersection of US 301 and University Parkway.

Biolife's products are sold in some of the largest hospitals in the country, the Business Observer previously reported.