South Jordan, Utah-based Merit designed its Prelude Roadster for deliverability, visibility, and resilience in tortuous peripheral vasculature anatomies. It helps to deliver devices used to diagnose and treat patients with peripheral artery disease (PAD).
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Merit Medical (Nasdaq:MMSI) posted second-quarter results this week that exceeded the consensus forecast on Wall Street.
The South Jordan, Utah-based company reported profits of $15.3 million, or 27¢ per share, on sales of $294.98 million for the three months ended June 30, for a bottom-line gain of 211.2% on sales growth of 5.23%.
Adjusted to exclude one-time items, earnings per share were 73¢, 15¢ ahead of The Street, where analysts were looking for sales of $281.01 million.
“Our updated guidance expectations for 2022 reflect continued confidence in our ability to drive solid constant currency revenue growth, material improvements in our profitability profile and strong free cash flow generation in 2022. Overall, we continue to execute on our multi-year strategic initiatives related to the Foundations for Growth Program and are excited about the results we are seeing across our business,” CEO Fred Lampropoulos said in a news release.
Merit…
In the ever-changing world of medtech, those who are leading the companies are bound to move around a bit.
At the end of last year, we compiled a list of medtech’s biggest personnel changes in 2021. Throughout just over half of 2022, we’ve already seen a slew of major moves around some of the space’s most powerful players.
Here is a list of some of the biggest personnel changes in medtech so far in 2022:
3M’s healthcare president retires 3M Health Care Business Group President Mojdeh Poul [Image courtesy of 3M]Mojdeh Poul, the president of 3M’s healthcare business, announced in May that she would retire from the position and her retirement was made effective on July 1.Poul joined 3M in 2011 as the global business VP of critical and chronic care solutions. She later became VP and general manager of the company’s food safety business and president of numerous 3M divisions, including infection prevention, 3M Canada, and sa…
Merit Medical Systems (Nasdaq:MMSI) announced today that it launched the smallest and shortest configuration of its Elation portfolio.
South Jordan, Utah-based Merit designed its new Elation pulmonary balloon to allow physicians to accurately match balloon diameter and length to specific small airways in the lungs, offering treatment options to more patients through an expanded range of configurations.
The company said in a news release that, historically, physicians relied on single-stage cardiovascular balloons that were “often too large and too long” for use in smaller airways.
“This is the first dilation balloon with a pulmonary indication that has an appropriate size and length for smaller airways,” Dr. Ali Sadoughi, director of interventional pulmonology and bronchoscopy services at Montefiore Medical Center, said in the release. “This new configuration helps me safely dilate challenging strictures, including those in short airways at t…
Merit Medical (NSDQ:MMSI) this week posted first-quarter results that beat the overall consensus on Wall Street.
The South Jordan, Utah-based disposable interventional medical device maker reported profits of $10.5 million, or 18¢ per share, on sales of $275.4 million for the three months ended March 31, for a bottom-line loss of 3.8% on sales growth of 10.65% compared with Q1 2021.
Adjusted to exclude one-time items, earnings per share were 53¢, 7¢ ahead of The Street, where analysts were looking for sales of $264.69 million.
“We delivered better-than-expected revenue results for the first quarter of 2022, driven by solid execution from our team, stronger-than-anticipated demand during the month of March, particularly in the U.S., and more favorable than anticipated sales trends in the APAC and “Rest of World” regions,” CEO Fred Lampropoulos said in a news release.
“We are confident in our 2022 guidance, which calls for total revenue growth, on a…
Merit Medical Systems (Nasdaq:MMSI) recently announced that chief operating officer Ronald Frost is retiring and Neil Peterson will succeed him, effective immediately.
Peterson has been with the South Jordan, Utah-based company for 27 years and has held numerous leadership roles within the company. He most recently served as VP of operations where he was responsible for oversight of all operations at Merit’s headquarters facilities in Utah.
“For more than 30 years, Ron has been an integral part of the growth and development of our company,” CEO Fred P. Lampropoulos said in a news release. “We thank Ron for his many contributions during his three-plus decades of service to the company and wish him the best in his retirement.” “Ron will assist in the transfer of responsibilities to Neil as needed.”
“Given his lengthy service to Merit, including responsibilities in the company’s engineering and operations groups, Neil is well q…
Merit Medical Systems (Nasdaq:MMSI) announced today that it received FDA clearance for its Scout Bx delivery system.
South Jordan, Utah-based Merit said in a news release that the technology represents the first wire-free breast localization solution that can be deployed at the time of stereotactic or MRI-guided biopsy.
The company designed Scout Bx to be compatible with the most commonly used stereotactic and MRI-guided breast biopsy devices on the market so patients can avoid an additional procedure.
Dr. Brett T. Parkinson, a diagnostic radiologist at Intermountain Healthcare in Salt Lake City and a consultant of Merit, said in the release that the system provides clinicians with a streamlined pathway to a broader group of patients without a requirement for the patient to undergo a second procedure.
“The Scout system is the market leader in wire-free breast surgical localization. Merit is committed to maintaining this leadership through continuo…
Merit Medical (Nasdaq:MMSI) issued an urgent field safety notice in Europe to alert users to a recall of some of its hemostasis valves.
South Jordan, Utah-based Merit initiated the voluntary recall of its Access-9 and AccessPLUS hemostasis valves as a result of a defect relating to a recent design change made to improve manufacturability, according to the notice.
Access hemostasis valves manufactured after the implementation of the change have an internal gap between the rotator and Y-body where the guidewire can get caught, Merit said. This can result in difficulty advancing the guidewire through the device.
Merit said the recall affects 120 Merit lots and 61 Merit catalog numbers, although the issue is unlikely to cause harm to the patient and does not result in additional risk to the patient or user.
Additionally, the defect does not appear to affect the safety or performance of the device when used as intended, but the potential of kinking or …
Merit Medical (Nasdaq:MMSI) announced today that it received FDA breakthrough device designation for its Embosphere microspheres.
South Jordan, Utah-based Merit Medical’s breakthrough nod covers the Embosphere microspheres for the genicular artery embolization (GAE) indication for reducing blood flow to the knee in order to reduce pain and disability caused by knee osteoarthritis.
Merit Medical said in a news release that Embosphere Microspheres are the most clinically utilized and clinically studied spherical embolic, having been used in more than 250,000 procedures.
“We are pleased with the recognition and partnership of the FDA, making it possible for new and innovative products to reach the market faster,” Merit Medical Chairperson and CEO Fred P. Lampropoulos said in the release. “Merit’s embolotherapy platform of products has provided consistent and predictable results for effective embolization. We believe this breakthrough designation allow…
Merit Medical (NSDQ:MMSI) shares ticked up today on fourth-quarter results that topped the consensus forecast.
Shares of MMSI were up 5.5% at $62.32 per share in mid-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.4%.
The South Jordan, Utah-based company posted profits of $20.6 million, or 36¢ per share, on sales of $278.5 million for the three months ended Dec. 31, 2021, for a 34% bottom-line gain on sales growth of 7.9%.
Adjusted to exclude one-time items, earnings per share were 71¢, 20¢ ahead of Wall Street, where analysts were looking for sales of nearly $271 million.
“We delivered a fourth-quarter performance that drove our 2021 financial results above the high end of our revenue and non-GAAP EPS guidance ranges, reflecting strong execution from our team despite the challenging operating environment,” Merit Medical Chairman and CEO Fred P. La…
Merit Medical (NSDQ:MMSI) shares ticked up today on first-quarter results that beat the consensus forecast.
The South Jordan, Utah-based company posted profits of $11 million, or 19¢ per share, on sales of $248.9 million for the three months ended March 31, 2021, pulling its bottom-line from out of the red year-over-year on sales growth of 2.2%.
Adjusted to exclude one-time items, earnings per share were 52¢, 15¢ ahead of Wall Street, while the company’s revenues topped analysts’ estimates by 7.7%.
“Despite a slow start to fiscal year 2021 as a result of continued challenges in the operating environment due to COVID-19, we saw measured improvements as we moved through the first quarter, and we delivered better-than-expected revenue results due in large part to a record month of March,” Merit chairman & CEO Fred P. Lampropoulos said in a news release. “We are also proud of the strong financial results we delivered in the first quarter. …
Although March brought on tough times for top stocks in the medtech industry, April is already showing signs of a rebound.
The year’s strong start, during which MassDevice‘s MedTech 100 index notched an all-time best of 110.96 points (Feb. 15) came to an end later that month and carried over into March, with the index hitting its lowest recent point on March 8 (102.16), marking a fall at a level not seen since October.
Even after a handful of slight improvements over the month of March, the industry never quite found its footing, ending the month below the 105-point mark.
The first week of April has already presented positive movement, though, with the industry rising to 106.26 points as the week ended on April 2, a 1.3% rise from the 104.87-point mark set the week prior on March 26.
Improvements highlight the secure position the industry has nestled into a year on from the height of the COVID-19 pandemic’s impact on medtech, as the industry…