South Jordan-based Merit Medical Systems Inc. has purchased two product lines from Argon Medical Devices and Catheter Connections Inc. of Plano, Texas. The combined revenues of the two acquired product lines were approximately $46 million in 2016. Merit paid $48 million for the Argon products.
Merit Medical is a manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and endoscopy. It was founded in 1987 by Fred P. Lampropoulos and Kent W. Stanger. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 200. Merit employs approximately 4,100 people worldwide with facilities in South Jordan; Pearland, Texas; Richmond, Virginia; Malvern, Pennsylvania; Rockland, Massachusetts; San Jose, California; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Tijuana, Mexico; Joinville, Brazil; Markham, Ontario, Canada; and Melbourne, Australia.
“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,” said Lampropoulos, Merit’s chairman of the board and CEO. “We intend to sell these products through our existing interventional cardiology sales force.”
Details about the product acquisitions, Merit’s fourth-quarter and full-year 2016 results, 2017 guidance, and profit goals will be discussed in a conference call with investors on Feb. 21.