Farmingdale-based Misonix, a maker of ultrasonic medical devices, has acquired Solsys Medical for about $109 million in stock – or a little more than a third of the company.
Solsys, a private company based in Newport News, Va., makes TheraSkin, a cellular and tissue-based wound treatment. Solys provides mesh made out of human skin grafts to help stubborn wounds heal.
Misonix said the product complements SonicOne, its own ultrasonic wound care product. Solsys generated $24 million in revenues during 2018. As part of the deal, Misonix assumed Solsys’ $24 million in outstanding secured debt.
Misonix CEO Stavros Vizirgianakis said Solsys will further advance “our revenue and competitive position by substantially broadening” Misonix’s offerings.
Misonix issued 5.7 million shares to former Solsys shareholders, leaving Misonix shareholders as owners of 64 percent of the combined entity and former Solsys shareholders with about 36 percent.
