Merit Medical Systems acquires DFINE for more than $96 million
Merit Medical Systems, a medical device company based out of South Jordan, Utah, announced this week it has acquired DFINE for approximately $96.7 million.
DFINE, a medical device company based out of San Jose, Calif., reported revenues of more than $33 million in 2015. Its products already have 510(k) clearance and CE marking.
Fred P. Lampropoulos, Merit chairman and CEO, spoke about the preexisting relationship between the two companies.
“We are delighted to have DFINE join Merit,” Lampropoulos said in a prepared statement. “Our relationship began a few years ago when Merit was asked to provide key device components for DFINE’s StabiliT and StabiliT MX products. In addition to the spinal compression fracture segment, we believe DFINE’s Star Tumor Ablation Kit complements and enhances Merit’s oncology business.”
Lampropoulos also looked ahead to the future in his statement.
“We plan to combine Merit’s oncology segments, including embolics, microcatheters and biopsy products into a newly created interventional oncology and spine division (IOS),” Lampropoulos said. “We believe the restructuring of the sales divisions—cardiovascular, peripheral and IOS—will enable us to devote greater focus on Merit’s broad portfolio of products, align our sales and marketing efforts with Merit’s goal of achieving a more therapeutic and disease state centered product offering, and enhance opportunities for future growth.”
Previous Radiology Business coverage of Merit Medical Systems can be read here, here and here.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.