Merit Medical acquires California-based View Point Medical Systems
Merit Medical Systems Inc., a South Jordan-based health care technology company, has acquired View Point Medical Inc. Through the merger transaction, View Point is now a wholly owned subsidiary of Merit Medical.
View Point, located in Carlsbad, California, manufactures the OneMark Detection Imaging System and OneMark Tissue Markers for cancer treatment.
The aggregate transaction, including the assumption of ViewPoint liabilities, is worth approximately $140 million, Merit said. Of that amount, $90 million was paid in cash at closing and two deferred payments of $25 million will be paid on the first and second anniversaries of the closing date.
“This acquisition expands Merit’s portfolio of therapeutic oncology products dedicated to the accurate diagnosis and localization of breast and soft tissue tumors,” said Martha G. Aronson, who was named Merit’s president and CEO in October. “Merit has built a market leadership position in wire-free, non-radioactive breast localization procedures. View Point’s unique ultrasound-enhanced technology offers a highly innovative solution to localize more lesions at the time of biopsy — representing an estimated 1.3 million procedures annually in the United States
“The acquisition of View Point reinforces Merit’s mission to help reduce the burden that breast cancer places on patients and their loved ones,” said Adam Smith, Merit’s chief commercial officer. “As treatment protocols evolve, the suspicious area is often most visible at the time of biopsy. Localizing these areas early in a patient’s cancer journey can help physicians plan treatment and may help reduce the need for additional localization procedures.”
Founded in 1987, Merit is engaged in the development, manufacture and distribution of proprietary medical devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy. Merit employs approximately 7,600 people in its worldwide operations.