Merit Medical Acquires Assets Of Radial Assist

(RTTNews) - Merit Medical Systems Inc. (MMSI), a maker of proprietary disposable devices used primarily in cardiology, radiology and endoscopy, said Monday it has acquired from Datascope Corp. the SAFEGUARD Pressure Assisted Device, which assists in obtaining and maintaining hemostasis after a femoral procedure, and the AIR-BAND Radial Compression Device, which is indicated to assist hemostasis of the radial artery puncture site while maintaining visibility.

Both products have FDA and CE clearance. The SAFEGUARD currently generates about $7 million of revenue, and the AIR-BAND has not yet been formally launched.

Financing for the transaction was provided by Wells Fargo Bank with an expansion of Merit's existing credit facility by $40 million. The expanded line will provide funds for the transaction as well as additional working capital.

Merit Medical said it plans to introduce the AIR-BAND at the upcoming VIVA and TCT conferences.