BioSphere Medical signs merger agreement with Merit Medical Systems
Clients BioSphere Medical, Inc.
Jones Day acted as IP counsel in advising BioSphere Medical, Inc. in connection with the execution of a definitive merger agreement with Merit Medical Systems, Inc., wherein Merit will acquire BioSphere in an all cash transaction valued at approximately $96 million. Both publicly traded companies, BioSphere Medical develops and markets embolotherapy products used to deliver drugs or block blood flow for the treatment of uterine fibroids, hypervascularized tumors and arteriovenous malformations, and Merit sells complementary products, such as catheters and guidewires, which are also used by interventional radiologists. It is anticipated that the transaction will close in the third quarter of 2010.