Sam Brusco, Associate Editor06.09.23
Merit Medical Systems has finished the acquisition of a portfolio of dialysis catheters and the BioSentry biopsy tract sealant system from AngioDynamics, for total cash consideration of $100 million.
Merit also recently acquired the Surfacer Inside-Out access catheter system from Bluegrass Vascular Technologies for total cash consideration of $32.5 million.
“We are selectively investing to expand our product portfolio in key strategic markets that leverage our existing commercial footprint,” Fred P. Lampropoulos, Merit’s chairman and CEO told the press. “These acquisitions strengthen our position in the dialysis and biopsy markets, and expand the foundation of our growing specialty dialysis device offering, which includes WRAPSODY Cell-Impermeable Endoprosthesis, HeRO Graft, and the Surfacer System devices. Many dialysis patients rely on these solutions to receive vital therapies. Combining this broad portfolio of interventional solutions within Merit will allow us to leverage our physician relationships and commercial infrastructure to serve more patients in the multi-billion dialysis market.”
Lampropoulos continued: “In addition to the strong strategic rationale, we believe the financial profile of these acquisitions is compelling. We expect these acquisitions to be accretive to our non-GAAP net income and non-GAAP EPS in the first full year post-closing and accretive to our non-GAAP gross and operating margins, non-GAAP net income and non-GAAP EPS in the second full year post-closing. Importantly, we reaffirmed our full-year 2023 financial guidance on a stand-alone basis and we have a clear plan that gives us confidence in our team’s ability to deliver seamless integration without disrupting the continued strong execution and progress we expect in year-three of our Foundations for Growth Program.”
The acquired dialysis catheter portfolio includes the BioFlo DuraMax dialysis catheter with Endexo technology, a proprietary material more resistant to blood clot accumulation, in vitro. The BioSentry system is designed to reduce incidence of biopsy-related pneumothorax (collapsed lung).
The Surfacer from Bluegrass Vascular is designed to obtain right-sided central venous access in patients with venous obstructions, providing access to life saving therapies including hemodialysis and chemotherapy.
Merit also recently acquired the Surfacer Inside-Out access catheter system from Bluegrass Vascular Technologies for total cash consideration of $32.5 million.
“We are selectively investing to expand our product portfolio in key strategic markets that leverage our existing commercial footprint,” Fred P. Lampropoulos, Merit’s chairman and CEO told the press. “These acquisitions strengthen our position in the dialysis and biopsy markets, and expand the foundation of our growing specialty dialysis device offering, which includes WRAPSODY Cell-Impermeable Endoprosthesis, HeRO Graft, and the Surfacer System devices. Many dialysis patients rely on these solutions to receive vital therapies. Combining this broad portfolio of interventional solutions within Merit will allow us to leverage our physician relationships and commercial infrastructure to serve more patients in the multi-billion dialysis market.”
Lampropoulos continued: “In addition to the strong strategic rationale, we believe the financial profile of these acquisitions is compelling. We expect these acquisitions to be accretive to our non-GAAP net income and non-GAAP EPS in the first full year post-closing and accretive to our non-GAAP gross and operating margins, non-GAAP net income and non-GAAP EPS in the second full year post-closing. Importantly, we reaffirmed our full-year 2023 financial guidance on a stand-alone basis and we have a clear plan that gives us confidence in our team’s ability to deliver seamless integration without disrupting the continued strong execution and progress we expect in year-three of our Foundations for Growth Program.”
The acquired dialysis catheter portfolio includes the BioFlo DuraMax dialysis catheter with Endexo technology, a proprietary material more resistant to blood clot accumulation, in vitro. The BioSentry system is designed to reduce incidence of biopsy-related pneumothorax (collapsed lung).
The Surfacer from Bluegrass Vascular is designed to obtain right-sided central venous access in patients with venous obstructions, providing access to life saving therapies including hemodialysis and chemotherapy.