BioSphere, Merit Medical Systems deal

Device company Merit will acquire BioSphere for $4.38 per share, or about $96 million in cash. The price is a 46% premium to BioSphere's close of $3 on May 13, before the deal was announced. BioSphere markets Embosphere bioengineered microspheres for embolotherapy to treat uterine fibroids, hypervascularized tumors and vascular malformations. BioSphere had revenues of $31.4 million in 2009.

Merit said the embolotherapy products complement its target markets, which includes interventional radiologists. ...