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Merit Medical Systems, Inc. (Nasdaq:MMSI), a leading manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and endoscopy, announced that it has acquired the assets of Ostial Solutions, LLC, a privately-held company based in Kalamazoo, Michigan, under terms which require approximately 33 percent of the anticipated purchase price to be paid at closing, approximately 22 percent of the anticipated purchase price to be paid within six months of closing and the balance to be paid only upon achievement of negotiated earn-out objectives.
The primary asset of Ostial Solutions is the patented Ostial Pro Stent Positioning System, which facilitates precise stent implantation in coronary and renal aorto-ostial lesions, eliminating guesswork when deploying a stent at the "true" ostium of the vessel.
Ostial Solutions has represented that the Ostial Pro Stent Positioning System is compatible with 6-, 7- and 8-French guiding catheters and any manufacturer's stent platforms. The anticipated benefits of this system would be to minimize the risk of the stent being deployed too proximal or too distal to the ostium, reducing the need for a second stent, as well as decreasing overall procedure time.
The device has received 510(k) clearance from the U.S. Food and Drug Administration, and Merit has commenced shipments of the product from Merit's facilities. The product has a hospital price of approximately $800, with margins above Merit's corporate average.
"We believe this is the right product at the right time to complement many of Merit's existing products, as well as anticipated future products, such as the Concierge guiding catheter, which Merit plans to introduce later this year," said Fred P. Lampropoulos, Merit's chairman and chief executive officer. "We believe this tool will help both patients and physicians, by improving the accuracy of stent placement, thereby reducing the potential cost and risk of additional stents, contrast media and x-ray exposure."