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- Merit Medical Systems Inc (NASDAQ:MMSI) is exploring options that include an outright sale to a private equity firm, Reuters reported citing people familiar with the matter.
- The U.S. medical device manufacturer has an enterprise value of approximately $3.9 billion.
- The sources said that Merit Medical is working with an investment bank and has solicited acquisition interest from buyout firms and added that there is no certainty that any deal will be reached.
- Merit Medical manufactures and sells devices and instruments used in cardiology, radiology, oncology, critical care, and endoscopy.
- The Company attracted the interest of activist hedge fund Starboard Value LP, which finalized an agreement in May 2020 to shake up Merit Medical's board of directors.
- Recently, the FDA granted breakthrough device designation to Merit Medical Systems' Embosphere Microspheres for the Genicular Artery Embolization (GAE) indication.
- GAE is a procedure intended to reduce pain and disability caused by knee osteoarthritis by reducing blood flow to the knee.
- Price Action: MMSI shares closed 6.24% higher at $65.00 on Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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