Merit Medical Systems has announced it will acquire Thomas Medical Products for approximately $167 million, according to a news release.
Thomas Medical, a unit of GE Healthcare based in Malvern, Pa., designs and manufactures catheter-based vascular access delivery devices for diagnostic and therapeutic procedures in electrophysiology, cardiac rhythm management, interventional cardiology and interventional radiology applications.
"We believe this transaction will help expand our market presence into new product categories, particularly in interventional cardiology," said Fred P. Lampropoulos, chairman and CEO of Merit, in the release. "A majority of cardiac rhythm access procedures utilize products of the nature manufactured by Thomas Medical. We believe substantial international expansion opportunities exist, especially in China, Japan, Russia and the Gulf States, as well as significant new product development opportunities based on know-how and existing intellectual property."
The transaction is expected to close prior to Dec. 31.
Merit Medical Systems, a manufacturer and marketer of disposable devices used primarily in cardiology, radiology and endoscopy, is headquartered in South Jordan, Utah.
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