Medigroup’s annual sales amount to approximately $2 million, most of which comes from the U.S. The company has achieved 75% gross margins, according to a press release.
"Medigroup offers a broad product line of catheters and implantation devices, and we believe this opportunity will enhance our overall dialysis business," Merit chairman & CEO Fred Lampropoulos said in prepared remarks. "While growing in the United States, peritoneal dialysis is the procedure of choice over chronic catheters in many international markets."
South Jordan, Utah-based Merit Medical plans to offer the product line on a worldwide basis, Lampropoulos added.
It’s Merit’s 2nd acquisition in as many months. Merit Medical late last month paid $167 million for GE Healthcare’s Thomas Medical vascular access business, which makes catheters used for vascular access.