Merit Medical completes Thomas Medical acquisition
Merit Medical Systems, a South Jordan-based provider of disposable medical products, said it has completed the acquisition of Thomas Medical Products for $167 million.
Thomas Medical was a unit of GE Healthcare based in Malvern, Pa. It designs and manufacturers catheters used in cardiology.
"The acquisition of Thomas Medical Products adds significant technology and sales base to our cardiology business," Fred P. Lampropoulos, Merit's chairman and CEO, said in a statement announcing the completion of the acquisition. "Additionally, Thomas Medical adds substantial breadth to our existing OEM business, which is approaching $100 million in annual revenues.
Thomas Medical will now operate as Merit Medical Systems, Malvern Division.
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