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Home » Merit Medical picks up Argon Medical Devices, Catheter Connections assets for $48m

Merit Medical picks up Argon Medical Devices, Catheter Connections assets for $48m

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Merit MedicalMerit Medical (NSDQ:MMSI) said today it picked up assets from Argon Medical Devices and Catheter Connections for $48 million.

The South Jordan, Utah-based company did not say which specific assets it acquired, but said that the 2 product lines it bought had combined revenue of $46 million in 2016.

“These product acquisitions broaden Merit’s product offering, expand Merit’s geographic presence, and support our goal of expanding our value proposition to our hospital customers globally. We intend to sell these products through our existing interventional cardiology sales force,” chairman & CEO Fred Lampropoulos said in an SEC filing.

More details about the acquisitions will be released along with the company’s full year 2016 earnings results and 2017 guidance, Merit said.

“The divestiture of the non-strategic, Critical Care business, is a further step toward concentrating attention of the entire business on our higher growth, Interventional portfolio,” president & CEO George Leondis said in prepared remarks.

Last October, Merit said that the U.S. Justice Dept. issued a subpoena seeking information on its marketing practices.

The Oct. 19 subpoena seeks “documents and other information regarding certain marketing and promotional practices relating to the company’s products,” the South Jordan, Utah-based medical device company said.

Merit, when spent most of last year on a buying spree, in July paid $97.5 million in cash to acquire San Jose, Calif.-based DFine and its StabiliT bone cement in injector and Star spine tumor ablation system, creating a new division to incorporate the add-ons.

In February Merit picked up the Hero hemodialysis access graft from CryoLife Inc. (NYSE:CRY) for $18.5 million in cash.

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