Merit Medical Systems (Nasdaq:MMSI) announced today that it completed its acquisition of Cook Medical’s lead management portfolio. South Jordan, Utah–based Merit announced its agreement to buy the portfolio for $210 million in September. Merit funded the acquisition through a combination of cash on hand and borrowings under a long-term credit facility. The Cook lead management […]
Merit Medical Systems
Merit Medical to buy Cook Medical’s lead management portfolio
Merit Medical Systems (Nasdaq:MMSI) announced today that it agreed to acquire Cook Medical’s lead management portfolio for $210 million. Cook Medical’s lead management business provides medical devices and accessories used in lead management procedures. These procedures occur in patients who need a pacemaker or an implantable cardioverter-defibrillator (ICD) lead removed or replaced. Merit Medical says […]
Merit Medical expands endoscopy portfolio with $105M device buy
Merit Medical Systems (Nasdaq:MMSI) announced today that it executed an asset purchase agreement with EndoGastric Solutions. The agreement features a $105 million total cash consideration for EndoGastric Solutions’ EsophyX Z+ device. EndoGastric Solutions designed its device as a minimally invasive, non-pharmacological treatment for patients with GERD. EsophyX Z+ treats GERD by restoring the body’s reflux […]
Medtronic partners with Merit Medical to market unipedicular balloon catheters
Medtronic (NYSE: MDT) today announced it is partnering with Merit Medical Systems to offer an unipedicular, steerable balloon catheter. As part of the agreement, Medtronic will be responsible for all sales, marketing and distribution of the Kyphon KyphoFlex unipedicular balloon catheter. Merit will be responsible for other manufacturing aspects of the catheter, including quality and […]
Merit Medical recalls certain products containing syringes made in China
Merit Medical issued an urgent medical device recall notice related to specific products that contain plastic syringes made in China. Certain lots of Merit products contain plastic syringes manufactured by Jiangsu Shenli Medical Production Co. Merit received notice from its supplier indicating that it supplied the company with those syringes. All but one size/type of […]
FDA clears surgical guidance system from Merit Medical
Merit Medical Systems (Nasdaq:MMSI) announced today that it received FDA 510(k) clearance for the Scout MD surgical guidance system. Scout MD broadens the South Jordan, Utah–based company’s oncology portfolio. Merit designed the system to enhance the diagnosis and treatment of breast cancer, as well as other soft tissue cancers. The system includes the Scout radar […]
Merit Medical founder, CEO to retire in 2025
Merit Medical Systems (Nasdaq:MMSI) announced that Fred Lampropoulos, its founder, CEO and president, intends to retire in two years. The company outlined its ongoing CEO succession plan process with an amended and restated employment agreement. Lampropoulos intends to continue to serve as president and CEO through Dec. 31, 2025. To carry out its CEO succession […]
Merit Medical closes $747.5M offering
Merit Medical Systems (Nasdaq:MMSI) confirmed in an SEC filing today that it closed an offering worth $747.5 million. The South Jordan, Utah-based disposable medical device maker announced earlier this week that it was offering $650 million in 3% senior convertible notes. It upsized the offering from a previously set price of $550 million. Included in […]
Merit Medical upsizes private offering to $650M
Merit Medical Systems (Nasdaq:MMSI) announced today that it priced an upsized private placement worth $650 million. South Jordan, Utah-based Merit is offering 3% Convertible Senior Notes due 2029 in the offering, only to qualified institutional buyers. The company granted the initial purchasers an option to purchase up to an additional $97.5 million during a 13-day […]
Merit Medical spends $132.5M on acquisitions to expand its offerings
AngioDynamics (Nasdaq:ANGO) announced that it completed the sale of its dialysis product portfolio to Merit Medical Systems. It was part of a series of product acquisitions worth $132.5 million that Merit (Nasdaq: MMSI) has announced. Latham, New York-based AngioDynamics sold its dialysis portfolio and the BioSentry product for $100 million in cash. The transaction includes […]
Merit Medical grows profits 62% in Q4
Merit Medical Systems (Nasdaq:MMSI) this week posted fourth-quarter results that beat the overall consensus on Wall Street. The South Jordan, Utah-based disposable medical device maker reported profits of $33.4 million, or 58¢ per share, on sales of $293.4 million, for the three months ended Dec. 31, 2023, for a bottom-line gain of 62% on sales growth […]