logo
  Join        Login             Stock Quote

Merit Medical (MMSI) Buys Assets of Peritoneal Dialysis Catheters Maker Medigroup

 November 29, 2012 11:47 AM
 


(By Balaseshan) Merit Medical Systems Inc. (NASDAQ: MMSI) said it purchased substantially all of the assets of Illinois-based peritoneal dialysis catheters manufacturer Medigroup Inc.

Medigroup is profitable with 75 percent gross margins, and the South Jordan, Utah-based Merit Medical expects the transaction will be immediately accretive for the company.

Medigroup's current annual sales are about $2 million, mostly in the United States, and Merit Medical intends to offer the product line immediately on a worldwide basis.

The company said that while growing in the United States, peritoneal dialysis is the procedure of choice over chronic catheters in many international markets.

[Related -Medical Supply Stocks To Get Hit By The Taxman, Yeah, The Taxman]

"Medigroup offers a broad product line of catheters and implantation devices, and we believe this opportunity will enhance our overall dialysis business," said Fred Lampropoulos, chairman and chief executive officer of Merit Medical.

Merit Medical designs, develops, manufactures and markets medical devices used in interventional and diagnostic procedures. The company operates in the cardiology, radiology, pulmonology, thoracic surgery, nephrology, vascular surgery and gastroenterology markets.

Merit employs about 2,600 people worldwide with facilities in Salt Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Copenhagen, Denmark; and Rockland, Massachusetts.

[Related -Merit Medical (MMSI) To Market Merit Laureate Hydrophilic Guide Wire]

MMSI is trading up 1.08 percent at $14.04 on Thursday. The stock has been trading between $11.51 and $15.37 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageInitial Jobless Claims Rose Unexpectedly

Claims unexpectedly rose in the latest report through last weekend to breach 300,000 for the first time read on...

article imageAll Quiet on the Record High Front

What can we glean from the media’s lack of attention to the market’s recent record read on...

article imageThe Chip Maker Short Sellers Should Be Watching

Investing in semiconductor stocks is always tricky. Industry cycles can lead to bumps in the road for the read on...

article imageChicago Fed: US Economic Growth Slowed In October

The pace of US growth slowed more than expected in October, according to this morning’s update of the read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.