20 December 2018 | News
The company has acquired substantially all of the assets of Vascular Insights, LLC, based in Quincy, Massachusetts
Merit Medical Systems, Jordan, a leading manufacturer and marketer of proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy.
The company has acquired substantially all of the assets of Vascular Insights, LLC, based in Quincy, Massachusetts. Vascular Insights’ primary assets are the ClariVein®IC and ClariVein®OC specialty infusion and occlusion catheter systems, which have been utilized in more than 120,000 cases to treat superficial venous disease, particularly below the knee (BTK), and venous leg ulcers (VLU).
The ClariVein systems address a $700 million global market. The ClariVein IC system has 510(k) clearance from the FDA, the ClariVein OC system is CE-marked, and the systems are covered by 43 patents issued worldwide.
The purchase price was $40 million plus additional milestone payments that could amount to an additional $20 million if certain sales targets are achieved.