Merit Medical (MMSI) Systems has completed the acquisition of Cook Medical’s lead management portfolio. The purchase consideration consisted of a cash payment of approximately $210 million and the assumption of certain liabilities. Merit funded the acquisition payment through a combination of cash on hand and borrowings under its long-term credit facility. Cook Medical’s lead management business provides a comprehensive end-to-end product portfolio of medical devices and accessories used in lead management procedures for patients who need a pacemaker or an implantable cardioverter-defibrillator lead removed or replaced. In addition to the lead management portfolio acquired from Cook Medical, Merit’s electrophysiology and CRM portfolio includes steerable and other specialty technologies that help electrophysiologists access the heart to diagnose and deliver devices to treat cardiac rhythm disorders. The anticipated impact of Merit’s acquisition of Cook Medical’s lead management portfolio on Merit’s operating and financial performance for 2024 and thereafter was disclosed in Merit’s October 30, 2024, earnings press release.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on MMSI:
- Merit Medical price target raised to $109 from $107 at Baird
- Merit Medical Reports Strong Q3 2024 Earnings Growth
- Merit Medical Systems Reports Strong Q3 2024 Growth
- Merit Medical reports Q3 non-GAAP EPS 86c, consensus 80c
- Merit Medical sees FY24 EPS $3.33-$3.38, consensus $3.30
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
