EX-99.1
4
a09-1365_2ex99d1.htm
EX-99.1
Exhibit 99.1
1600 West Merit Parkway ·
South Jordan,
UT 84095
Telephone:
801-253-1600 ·
Fax:
801-253-1688
PRESSRELEASE
FOR IMMEDIATE RELEASE
Date:
March 16, 2009
Contact:
Anne-Marie Wright, Vice President of Corporate Communications
Phone:
(801) 208-4167 e-mail:
awright@merit.com Fax: (801) 253-1688
MERIT
MEDICAL ANNOUNCES CLOSING OF
ALVEOLUS
AND BIOSEARCH DEALS
SOUTH JORDAN, UTAH- Merit Medical Systems, Inc.
(NASDAQ: MMSI), a leading manufacturer and marketer of proprietary disposable
devices used primarily in cardiology, radiology and gastroenterology
procedures, today announced that the previously signed definitive agreements to
acquire the assets of Alveolus, Inc., and Biosearch Medical Products, Inc.
have been closed.
The combined purchase price of approximately
$20.6 million was paid from cash reserves and is subject to post-closing
adjustments.
"We are pleased with the closing of these
transactions and will now initiate our strategy for a new business unit", said
Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer.
ABOUT MERIT
Founded in 1987, Merit Medical Systems, Inc. is engaged in the
development, manufacture and distribution of proprietary disposable medical
devices used in interventional and diagnostic procedures, particularly in
cardiology, radiology and gastroenterology.
Merit serves client hospitals worldwide with a domestic and
international sales force totaling approximately 100 individuals. Merit employs approximately 1,700 people
worldwide, with facilities in Salt Lake City and South
Jordan, Utah; Angleton, Texas;
Richmond, Virginia; Maastricht and Venlo, The Netherlands; and Galway, Ireland.
Statements contained in this
release which are not purely historical, are forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995 and are
subject to risks and uncertainties such as those described in Merit's Annual
Report on Form 10-K for the year ended December 31, 2007. Such
risks and uncertainties include risks relating to unanticipated
consequences of Merit's proposed acquisition of the Alveolus and Biosearch
assets; challenges associated with Merit's efforts to pursue new market
opportunities, including opportunities in the gastroenterology and pulmonary
markets; infringement of Merit's technology or the
assertion that Merit's technology infringes the rights of other parties; product
recalls and product liability claims; downturn of the
national economy and its affect on Merit's revenues, collections and supplier relations;
termination of supplier relationships, or failure of suppliers to
perform; inability to successfully manage growth through acquisitions; delays
in obtaining regulatory approvals, or the failure to maintain such approvals;
concentration of Merit's revenues among a few products and procedures;
development of new products and technology that could render Merit's products
obsolete; market acceptance of new products; introduction of products in a
timely fashion; price and product competition; availability of labor and
materials; cost increases; and fluctuations in and obsolescence of inventory;
volatility of the market price of Merit's common stock; foreign currency
fluctuations; changes in key personnel; work stoppage or transportation
risks; modification or limitation of governmental or private insurance
reimbursement; changes in health care markets related to health care reform
initiatives; and other factors referred to in Merit's Annual Report on Form 10-K
for the year ended December 31, 2007, and other reports filed with the
Securities and Exchange Commission. All subsequent forward-looking
statements attributable to Merit or persons acting on its behalf are expressly
qualified in their entirety by these cautionary statements. Actual results will differ, and may differ materially, from anticipated
results. Financial estimates are subject to change and are not intended
to be relied upon as predictions of future operating results, and Merit assumes
no obligation to update or disclose revisions to those estimates.
# # #

EX - 99 . 1 4 a09 - 1365 _ 2ex99d1 . htm EX - 99 . 1 Exhibit 99 . 1 1600 West Merit Parkway · South Jordan , UT 84095 Telephone : 801 - 253 - 1600 · Fax : 801 - 253 - 1688 PRESSRELEASE FOR IMMEDIATE RELEASE Date : March 16 , 2009 Contact : Anne-Marie Wright , Vice President of Corporate Communications Phone : ( 801 ) 208 - 4167 e - mail : awright@merit.com Fax : ( 801 ) 253 - 1688 MERIT MEDICAL ANNOUNCES CLOSING OF ALVEOLUS AND BIOSEARCH DEALS SOUTH JORDAN , UTAH - Merit Medical Systems , Inc . ( NASDAQ : MMSI ) , a leading manufacturer and marketer of proprietary disposable devices used primarily in cardiology , radiology and gastroenterology procedures , today announced that the previously signed definitive agreements to acquire the assets of Alveolus , Inc . , and Biosearch Medical Products , Inc . have been closed . The combined purchase price of approximately $ 20.6 million was paid from cash reserves and is subject to post - closing adjustments . " We are pleased with the closing of these transactions and will now initiate our strategy for a new business unit " , said Fred P . Lampropoulos , Merit 's Chairman and Chief Executive Officer . ABOUT MERIT Founded in 1987 , Merit Medical Systems , Inc . is engaged in the development , manufacture and distribution of proprietary disposable medical devices used in interventional and diagnostic procedures , particularly in cardiology , radiology and gastroenterology . Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 100 individuals . Merit employs approximately 1,700 people worldwide , with facilities in Salt Lake City and South Jordan , Utah ; Angleton , Texas ; Richmond , Virginia ; Maastricht and Venlo , The Netherlands ; and Galway , Ireland . Statements contained in this release which are not purely historical , are forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties such as those described in Merit 's Annual Report on Form 10 - K for the year ended December 31 , 2007 . Such risks and uncertainties include risks relating to unanticipated consequences of Merit 's proposed acquisition of the Alveolus and Biosearch assets ; challenges associated with Merit 's efforts to pursue new market opportunities , including opportunities in the gastroenterology and pulmonary markets ; infringement of Merit 's technology or the assertion that Merit 's technology infringes the rights of other parties ; product recalls and product liability claims ; downturn of the national economy and its affect on Merit 's revenues , collections and supplier relations ; termination of supplier relationships , or failure of suppliers to perform ; inability to successfully manage growth through acquisitions ; delays in obtaining regulatory approvals , or the failure to maintain such approvals ; concentration of Merit 's revenues among a few products and procedures ; development of new products and technology that could render Merit 's products obsolete ; market acceptance of new products ; introduction of products in a timely fashion ; price and product competition ; availability of labor and materials ; cost increases ; and fluctuations in and obsolescence of inventory ; volatility of the market price of Merit 's common stock ; foreign currency fluctuations ; changes in key personnel ; work stoppage or transportation risks ; modification or limitation of governmental or private insurance reimbursement ; changes in health care markets related to health care reform initiatives ; and other factors referred to in Merit 's Annual Report on Form 10 - K for the year ended December 31 , 2007 , and other reports filed with the Securities and Exchange Commission . All subsequent forward - looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements . Actual results will differ , and may differ materially , from anticipated results . Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results , and Merit assumes no obligation to update or disclose revisions to those estimates . # # #
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