Key Developments: Merit Medical Systems Inc (MMSI.OQ)

MMSI.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Merit Medical Systems Inc receives regulatory approval for tracheobronchial stent systems in China
Wednesday, 9 Jul 2014 09:30am EDT 

Merit Medical Systems Inc:Announces that it has received approval from the Chinese Food and Drug Administration (CFDA) to market Merit's Aero Tracheobronchial Stent System.Approval is for a period of five years and includes the over-the-wire (OTW) system as well as the direct visualization (DV) system.Approval covers 33 catalog items.  Full Article

Merit Medical Systems Inc gives FY 2014 guidance in line with analysts' estimates
Monday, 3 Mar 2014 04:00pm EST 

Merit Medical Systems Inc:Expects FY 2014 sales of $488.0 to $498.0 million.Expects FY 2014 earnings on a non-GAAP basis of $0.74 to $0.78 per share.Expects FY 2014 on GAAP basis of $0.53 to $0.57 per share.FY 2014 revenue of $489 million and EPS of $0.76 - Thomson Reuters I/B/E/S.  Full Article

Merit Medical Systems Inc Issues FY 2013 Guidance Below Analysts' Estimates
Thursday, 25 Apr 2013 04:01pm EDT 

Merit Medical Systems Inc announced that for fiscal 2013, it expects revenues to be in the range of $445-$455 million, an increase of approximately 13-15%, compared to revenues of $394.3 million for the year ended December 31, 2012. Also, based on information currently available to Merit's management, Merit estimates that, absent non-recurring transactions, Merit's GAAP earnings per share for fiscal 2013 to be in the range of $0.30-$0.36, compared to GAAP earnings per share of $0.46 for the year ended December 31, 2012, and non-GAAP earnings per share of $0.50-$0.56. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $461 million and EPS of $0.64 for fiscal 2013.  Full Article

Merit Medical Systems Inc Issues FY 2013 Mixed Guidance
Thursday, 21 Feb 2013 04:00pm EST 

Merit Medical Systems Inc announced that for fiscal 2013, it expects revenues will be in the range of $455-$465 million, GAAP earnings per share for 2013 will be in the range of $0.40-$0.46 and non-GAAP earnings per share of $0.61-$0.67. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $447 million and EPS of $0.89 for fiscal 2013.  Full Article

Merit Medical Systems Inc Completes Acquisition of GE Healthcare's Thomas Medical Products
Thursday, 20 Dec 2012 09:30am EST 

Merit Medical Systems Inc announced that it has completed the acquisition of Thomas Medical Products, Inc. (Thomas Medical) from GE Healthcare in an all-cash transaction valued at approximately $167 million, subject to customary post-closing adjustments.Thomas Medical will now operate as Merit Medical Systems, Inc., Malvern Division. Merit financed the full amount of the purchase price through the expansion of Merit's existing credit facility to $275 million, which Wells Fargo Bank provided in a single bank transaction. Merit expects the acquisition to be immediately accretive to its net earnings on a non-GAAP basis, adjusted for transaction costs, one-time purchase accounting directives and amortization of intangibles. In connection with the transaction, Piper Jaffray & Co. served as financial advisor to Merit and rendered a fairness opinion to Merit's board of directors. Raymond James Financial, Inc. also rendered a fairness opinion to Merit's board of directors. Parr Brown Gee & Loveless served as the legal advisor to Merit. Moelis & Company LLC served as financial advisor and Paul Hastings LLP served as legal advisor to GE Healthcare.  Full Article

Merit Medical Systems Inc Signs Agreement To Acquire Thomas Medical Products, Unit Of GE Healthcare
Monday, 26 Nov 2012 04:05pm EST 

Merit Medical Systems Inc announced that it has entered into a stock purchase agreement to acquire Thomas Medical Products, Inc. (Thomas Medical) from GE Healthcare in an all-cash transaction valued at approximately $167 million, subject to customary post-closing adjustments. The transaction has been approved by Merit's board of directors and is subject to the satisfaction or waiver (in accordance with the provisions of the stock purchase agreement) of certain closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act and other customary conditions. Merit currently anticipates that the proposed transaction will close prior to December 31, 2012. The transaction is not subject to a financing condition, as Merit has secured a commitment from Wells Fargo to expand Merit's existing credit facility to an amount that Merit believes will be sufficient to consummate the proposed transaction. In connection with the proposed transaction, Piper Jaffray & Co. served as financial advisor to Merit and rendered a fairness opinion to Merit's board of directors. Raymond James Financial, Inc. also rendered a fairness opinion to Merit's board of directors. Parr Brown Gee & Loveless served as the legal advisor to Merit. Moelis & Company LLC served as financial advisor and Paul Hastings LLP served as legal advisor to GE Healthcare.  Full Article

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