Merit Medical gains ClariVein catheter systems with Vascular Insights acquisition

Merit Medical Systems announced Monday that it acquired all of the assets of Vascular Insights, including the FDA 510(k)-cleared ClariVein IC and CE-marked ClariVein OC specialty infusion and occlusion catheter systems, for $40 million plus additional milestone payments of up to $20 million if certain sales targets are achieved. Merit Medical said the devices, which "address a $700-million global market," are used to treat superficial venous disease, particularly below the knee, and venous leg ulcers.

Fred Lampropoulos, chief executive at Merit Medical, remarked that "these products complement our existing peripheral intervention sales platform, add to our capability to provide many existing Merit products, such as our micropuncture and vascular access products, and increase our ability to customise the entire procedure for our customers."

Merit Medical noted that the effect of the acquisition is expected to be dilutive to its 2018 earnings by around $0.02 per common share, with "revenue contributions expected to be inconsequential" for the year. For 2019, the company estimates the acquisition will be accretive to earnings in the range of $0.00 to $0.02 per common share, with additional revenues for the year anticipated in the range of $10 million to $11 million.

Last month, Merit Medical closed its acquisition of Cianna Medical in a deal valued up to $200 million.

For additional analysis, see The Wider View: Is Merit Medical bringing in ClariVein to ease its FOLO pain?