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.

"We are excited to enhance the portfolio of hemostatic solutions offered to clinicians with the acquisition of Biolife,” Merit CEO and chairman Fred Lampropoulos says in a statement. “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. 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 health care providers globally.”

Merit Medical Systems, based in Utah, develops, manufactures and distributes proprietary medical devices used in interventional, diagnostic and therapeutic procedures, according to a statement. It employs about 7,300 people worldwide.

In 2024, Biolife generated about $15 million of revenue, according to a statement from Merit, which says the Utah company expects it to contribute about $10 to $11 million from the May 20 merger through the end of the year. Based on the acquisition, Merit updated its 2025 financial guidance to reflect that it expects to do about $1.48 billion to $1.5 billion in sales this year, up from the $1.47 to $1.49 billion it was projecting before the transaction.