Merit Medical acquires assets of Illinois catheter maker
Merit Medical Systems, a South Jordan-based manufacturer of catheters and other disposable medical products, said it has acquired the assets of Medigroup Inc., a manufacturer of dialysis catheters based in Illinois.
"Medigroup offers a broad product line of catheters and implantation devices, and we believe this opportunity will enhance our overall dialysis business," Fred P. Lampropoulos, Merit's chairman and CEO, said in a statement announcing the acquisition.
Lampropoulos said Medigroup's current annual sales are approximately $2 million, mostly in the United States. He said Merit plans to offer Medigroup's product line immediately on a worldwide basis.
Medigroup is profitable, with 75 percent gross margins, and Lampropoulos said the transaction should immediately add to Merit's earnings.