Merit Medical Systems

Merit Medical Systems (Nasdaq:MMSI) announced today that it received FDA 510(k) clearance for the Scout MD surgical guidance system.

Scout MD broadens the South Jordan, Utah–based company’s oncology portfolio. Merit designed the system to enhance the diagnosis and treatment of breast cancer, as well as other soft tissue cancers. The system includes the Scout radar localization system with Scout mini reflector and Scout Bx delivery system. It also features the Savi brachy system.

According to a news release, Scout MD supports the implantation of up to four different reflector configurations. When implanted within abnormal breast or other soft tissue, reflectors pinpoint tumor location in multiple dimensions. This enables more precise excision.

With a targeted approach, the system can help minimize damage to surrounding healthy tissue and decrease the likelihood of re-excision. Merit says it also helps to avoid the emotional and physical trauma assoc…

Merit Medical Systems (Nasdaq:MMSI) confirmed in an SEC filing today that it closed an offering worth $747.5 million.

The South Jordan, Utah-based disposable medical device maker announced earlier this week that it was offering $650 million in 3% senior convertible notes. It upsized the offering from a previously set price of $550 million. Included in the $650 million offering of notes, due 2029, was an option to purchase up to nearly $100 million more.

The notes bear 3% interest per year, payable semi-annually in arrears on Feb. 1 and Aug. 1 of each year, starting in August 2024.

Merit Medical’s SEC filing confirmed that the purchasers exercised their options in full, adding $97.5 million to the total amount sold.

After deducting discounts and commissions, Merit anticipates net proceeds of approximately $725.1 million. It intends to use a chunk of the proceeds to pay the cost of entering into capped call transactions. Merit intends to use a…

Merit Medical Systems (Nasdaq:MMSI) announced today that it priced an upsized private placement worth $650 million.

South Jordan, Utah-based Merit is offering 3% Convertible Senior Notes due 2029 in the offering, only to qualified institutional buyers. The company granted the initial purchasers an option to purchase up to an additional $97.5 million during a 13-day period. That period begins on and includes the date of the first issuance.

Merit upsized this offering from a previously announced placement of $550 million. It expects the sale of notes to initial purchasers to close on Dec. 8, 2023.

The notes bear 3% interest per year, payable semi-annually in arrears on Feb. 1 and Aug. 1 of each year, starting in August 2024. Holders have the right to require Merit to repurchase all or part of their notes upon the occurrence of a fundamental change in cash at a fundamental change repurchase price of 100% of their principal amount plus accrued and unpaid int…

Merit Medical Systems (Nasdaq:MMSI) this week posted fourth-quarter results that beat the overall consensus on Wall Street.

The South Jordan, Utah-based disposable medical device maker reported profits of $33.4 million, or 58¢ per share, on sales of $293.4 million, for the three months ended Dec. 31, 2023, for a bottom-line gain of 62% on sales growth of 5.36% compared to Q4 2021.

Adjusted to exclude one-time items, earnings per share were 79¢, 12¢ ahead of The Street, where analysts were looking for sales of $290.14 million.

“We delivered 8% constant currency revenue growth in the fourth quarter of 2022, at the high end of our expectations,” CEO Fred Lampropoulos said in a news release. “We are introducing 2023 financial guidance which reflects our confidence in our team’s ability to deliver continued strong execution, despite the challenging operating environment around the world.”

For fiscal 2023, Merit Medical anticipates net sales in th…

South Jordan, Utah–based Merit Medical described the PreludeSync EZ as a unique cinch-style wristband. The company designed it to provide precise two-handed placement and clear visibility of the access site.

The goal is to optimize bleeding prevention for radial artery procedures. Think catheter-based delivery systems. For example, a doctor will run a catheter through a pinhole-sized site in the wrist to conduct minimally invasive scans and procedures around the heart.

The PreludeSync EZ provides a simplified alternative to the two-strap compression band currently on the market, according to the company. In addition, the PreludeSync EZ’s design features include a large window that provides clear visibility to further assist precise placement.

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Merit Medical Systems (Nasdaq:MMSI) shares are up today — a day after it reported Q3 results that topped the consensus forecast.

The South Jordan, Utah-based disposable medical device maker announced yesterday evening that it posted profits of $15.3 million in the quarter. That amounts to 27¢ per share.

Merit registered sales of $287.2 million for the three months ended Sept. 30, 2022. Its figures include a 27.6% bottom-line improvement on sales growth of 7.5%.

Adjusted to exclude one-time items, Merit posted earnings per share of 64¢. That’s 11¢ ahead of expectations on Wall Street. Analysts projected sales of $272 million.

Mike Matson at Neeham & Co. said Merit Medical enjoyed broad-based growth that drove a solid Q3 despite inflation and currency headwinds. He reiterated his Buy rating: “We believe that MMSI continues to execute on its strategy despite macro headwinds and expect it to continue to drive strong revenue growth, mar…

Merit Medical Systems (Nasdaq:MMSI) announced today that it launched the TEMNO Elite soft tissue biopsy system in the U.S.

South Jordan, Utah-based Merit designed TEMNO Elite for use in various soft tissue locations. This includes the liver, lung, lymph nodes, kidney, and other soft tissue suspect lesions.

The single-use device complements a broader portfolio, the company said. The portfolio includes the TEMNO, Achieve and Tru-Cut device families.

Merit designed TEMNO Elite to retrieve superior samples, according to a news release. The TEMNO Elite Total Core biopsy technology provides samples 72% larger than competitor side-notch, semi-automatic devices. It features Sample Assist technology to simplify tissue removal as well.

Sample Assist allows clinicians to retrieve full samples with just the slide of a button. Additionally, it includes an optional, valved coaxial introducer. This enhances patient safety by reducing the risk of air entry and fl…