Merit Medical Systems, Inc. (NASDAQ:MMSI) will acquire Brightwater Medical for a $35 million upfront payment and potential earn-out payments of up to $15 million based on receipt of CE mark approval and achievement of future sales targets.
Merit Medical is a manufacturer of proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology and endoscopy.
Brightwater Medical’s primary product is the ConvertX, is a single device used to replace a series of devices and procedures used to treat severe obstructions of the ureter.
On Monday, Merit Medical shares were trading up 2.8% at $59.28.
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