Healthcare Industry News: Merit Medical Systems
News Release - April 17, 2006
Merit Medical Acquires New Safety ScalpelSOUTH JORDAN, Utah--(HSMN NewsFeed)--April 17, 2006--Merit Medical Systems Inc. (Nasdaq: MMSI ), a leading manufacturer and marketer of proprietary disposable accessories used primarily in cardiology and radiology procedures, announced today that it has acquired for cash certain assets for the manufacturing and sale of an auto-retractable safety scalpel currently branded as the FuturaŽ Safety Scalpel.
Disposable safety scalpels are used in various medical procedures and have found wide acceptance for minimizing accidents to health care workers.
"The Futura Safety Scalpel, which is an established line available in a variety of blade sizes, enhances our existing range of safety products and broadens our product line for kits, procedure trays and OEM business," said Fred P. Lampropoulos, Merit's chairman and CEO.
Regulatory approvals are in place with sales by Merit commencing immediately. The agreement has sales retention and transfer requirements with a maximum payout of $1.25 million.
Founded in 1987, Merit Medical Systems Inc. is engaged in the development, manufacture and distribution of proprietary disposable medical accessories used in interventional and diagnostic procedures, particularly in cardiology and radiology. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 85 individuals. Merit employs approximately 1,600 people worldwide, with facilities in Salt Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Va.; Maastricht, Netherlands; Venlo, Netherlands; and Galway, Ireland.
Statements contained in this release which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Act of 1995 and are subject to risks and uncertainties such as those described in Merit's Annual Report on Form 10-K for the year ended Dec. 31, 2005. Such risks and uncertainties include market acceptance of new products, introduction of products in a timely fashion, product recalls, delays in obtaining regulatory approvals, or the failure to maintain such approvals, cost increases, fluctuations in and obsolescence of inventory, price and product competition, availability of labor and materials, development of new products and technology that could render our products obsolete, product liability claims, modification or limitation of governmental or private insurance reimbursement, infringement of our technology or the assertion that our technology infringes the rights of other parties, foreign currency fluctuations, challenges associated with the company's growth strategy, changes in health care markets related to health care reform initiatives, litigation and other factors referred to in the company's 10-K and other reports filed with the Securities and Exchange Commission. All subsequent forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results may differ materially from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results, and Merit assumes no obligation to update or disclose revisions to those estimates.
Source: Merit Medical Systems
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