Profile: Merit Medical Systems Inc (MMSI.OQ)
7 Mar 2014
Merit Medical Systems, Inc. (Merit) designs, develops, manufactures and markets medical devices used in a range of interventional and diagnostic procedures. The Company operates in seven markets, which include cardiology, radiology, pulmonology, thoracic surgery, nephrology, vascular surgery and gastroenterology. Its products are also used in other clinical areas, such as pain management, ear nose and throat physicians (ENTs), interventional nephrology and endovascular surgery. It operates in two segments: cardiovascular and endoscopy. Its cardiovascular segment consists of cardiology and radiology devices, which assist in diagnosing and treating coronary arterial disease, peripheral vascular disease and other non-vascular diseases, and includes the embolotherapeutic products. Its endoscopy segment consists of gastroenterology and pulmonology medical devices, which assist in the palliative treatment of expanding esophageal, tracheobronchial and biliary strictures caused by malignant tumors. During the year ended December 31, 2011, it introduced the ASAP Aspiration Catheter, a single extrusion wire braided catheter with a huge aspiration lumen to facilitate quick aspiration of emboli and thrombi from tortuous anatomy. In February 2012, the Company acquired the assets of Ostial Solutions, LLC. In December 2012, the Company acquired Thomas Medical Products, Inc.
Cardiology and Radiology Products
The Company offers a line of inflation devices that measure pressures during balloon and stent deployment. Products, such as IntelliSystem and Monarch inflation systems (digital inflation systems), as well as the BasixCOMPAK inflation device, offer the clinician a range of features. Merit has developed a line of hemostasis valves, Merit Angioplasty Packs (MAP Kits) and angioplasty accessories. Hemostasis valves connect to catheters and allow passage of additional guide wires, balloon catheters, and other devices into the vasculature. Its hemostasis brands include Honor, AccessPLUS, Access-9, DoublePlay, MBA and MBAPlus and the Passage.
The EN Snare is intended for use in the cardiovascular system or hollow viscous to retrieve and manipulate foreign objects. The Company offers a line of devices used to maintain vascular access while protecting the clinician from accidental cuts and needle sticks during procedures. The devices and kits include the Futura Safety Scalpel and a line of angiography needles (Merit Advance), as well as the SecureLoc Introducer Needle. In addition, it offers a line of sheath introducers (Prelude) and mini access kits (MAK and S-MAK), which are designed to allow the clinician smooth, less traumatic, and convenient access to the patient’s vasculature. It offers diagnostic catheters for use during both cardiology and radiology angiographic procedures. Its diagnostic catheter includes Impress line of peripheral catheters, and the Performa line of cardiology catheters. These catheters offer interventional radiologists and cardiologists performance during a variety of angiography procedures.
The Company’s diagnostic guide wires are used to traverse vascular anatomy and aid in placing catheters and other devices. Its pre-coated InQwire diagnostic guide wires are lubricious and are available in a range of configurations to meet clinicians diagnostic needs. These wires provide maneuverability through tortuous anatomy. It also offers a line of torque devices (guide wire steering tools) that can be used on both standard and hydrophilic guide wires in both huge and small diameters and are often included as a component in its angioplasty packs.
During 2011, the Company introduced the Flow Control Switch, an integrated, one- handed, single-channel switch designed for clinician and patient safety. The Company offers a range of specialty syringes including color-coded Medallion syringes, and the VacLok negative pressure syringe. Additionally, it offers a line of kits containing fluid management products, such as syringes, manifolds, stopcocks, tubing, and disposable pressure transducers (Meritrans) for measurement of pressures within the vessels and chambers of the heart. The TRAM and TRAM-P Integrated Transducers combine a torque manifold with the transducer. It also provides devices, kits, and procedure trays used to manage fluids, contrast media, and waste during angiography and interventional procedures. The Miser II contrast management system complements its line of fluid management products used in angiography procedures.
The Company offers a variety of products and kits. Its ShortStop and ShortStop Advantage temporary sharps holders address the potential safety issues associated with accidental needle sticks. Its line of color-coded Medallion Specialty Syringes and the PAL pen and label medication labeling system are designed to help minimize mix-ups in administering medication. It also offers waste management products to help avoid accidental exposure to contaminated fluids. These include the Company’s Occupational Safety and Health Administration (OSHA) compliant waste disposal basins: the BackStop, BackStop+, MiniStop, MiniStop+, and DugOut. The Company has developed two independent, radial compression systems, including the Finale and the RADStat. It also offers a range of catheter fixation devices including the Revolution Catheter Securement Device. It also provides a selection of accessories that complement its drainage catheters, including tubing sets and drainage bags.
For non-vascular applications, it offers mini access kits (MAK-NV) designed for visualization and quick access into the drainage area. The One-Step Centesis Catheter, Safety Paracentesis Procedure Tray (SPPT) and Thoracentesis and Paracentesis Set (TAPS) are designed to provide clinicians with a convenient method for removing the fluid accumulation. One-Step product line includes a valved version of the device. The valved One-Step Centesis Catheter and TAPS is also used to remove the excess fluid in the pleural space during a thoracentesis. It offers a line of therapeutic thrombolytic infusion systems featuring the Fountain Infusion System and the Mistique Infusion Catheter. These catheters are used to treat thrombus (blood clot) formation in the peripheral vessels of the body, including native dialysis fistula and synthetic grafts.
With the acquisition of BioSphere, the Company offers embolic microspheres and microsphere delivery systems. Microcatheters and small (mini) guide wires are also available as delivery systems for the embolic particles. These products include Embosphere Microspheres, which are marketed for symptomatic uterine fibroids, hypervascularized tumors and arteriovenous malformations in the United States, the European Union, the People’s Republic of China and other markets outside the United States; EmboGold Microspheres, which are marketed for hypervascularized tumors and arteriovenous malformations in the United States, the European Union and several other markets outside the United States; HepaSphere Microspheres, which are marketed in the European Union, Brazil and Russia for primary and metastatic liver cancer, and in the European Union and Russia for drug delivery in the treatment of primary and metastatic liver cancer, and QuadraSphere Microspheres, which are marketed for the treatment of hypervascularized tumors and arteriovenous malformations in the United States.
During 2011, the Company added the Centros and the CentrosFLO split-tipped dialysis catheters to its chronic dialysis line. The ProGuide is considered a workhorse catheter for chronic dialysis and provides a platform for additional Merit products in the dialysis and interventional nephrology market. The Company also offers a range of guide wires, diagnostic catheters, therapeutic infusion systems, and safety products that can be used during dialysis-related procedures. The OuTake Catheter Extractor is used to remove tunneled chronic dialysis catheters from dialysis patients. The Company offers the Impress 30 centimeter angiographic catheters, which can be used by interventional nephrologists.
Interventional Gastroenterology and Pulmonology Products
The Company sells a variety of non-vascular stents. Its AERO and AERO DV Fully Covered Tracheobronchial Stents are used by interventional pulmonologists, ENTs and thoracic surgeons. Merit Endotek also sells the AEROSIZER tracheobronchial stent sizing device, which is used in interventional pulmonology procedures. MAXXWIRE is a line of specialty guide wires that have pulmonology and gastroenterology applications. The Company’s Brighton Bipolar Probe is sold directly by its Merit Endotek division, and its original bipolar probe is sold on an original equipment manufacturer (OEM) basis to customers who market them to a huge number of gastroenterologists. Merit Endotek’s BIG60 Inflation Device is a 60milliliter device designed to inflate and deflate non-vascular balloon dilators while monitoring and displaying inflation pressures up to 12 atmospheres. Merit Endotek also offers Endotek-labeled versions of the BasixCOMPAK and Monarch inflation devices to customers in pulmonology, gastroenterology and thoracic surgery. Merit Endotek’s BiliQuick incorporates a kit that is used in gastroenterology to deliver contrast media while refilling the injection syringe. Its Inject10n syringe is included in the kit.
Specialty Procedure Products
The Company offers a variety of devices and accessories used during invasive diagnostic and interventional procedures. The Company’s digital inflation devices (IntelliSystem and Monarch) are used in many pain management clinics. Its sensor division manufactures and sells microelectromechanical systems (MEMS) pressure sensor components focusing on piezoresistive pressure sensors in various forms, including bare silicon die, die mounted on ceramic substrates, and custom assemblies for specific customers.
The Company competes with Cordis Corporation (Johnson & Johnson), Boston Scientific Corporation, Medtronic, C.R. Bard, Abbott Laboratories, Teleflex, Terumo Corporation, AngioDynamics, Vascular Solutions, B. Braun, Olympus, Navilyst Medical, Edwards Lifesciences, ICU Medical, BTG, CeloNova Biosciences, Inc., Pfizer Inc. and Cook Incorporated.
Merit Medical Systems Inc
1600 West Merit Parkway
SOUTH JORDAN UT 84095