Merit Medical Systems Inc. develops, manufactures and distributes proprietary medical devices used in interventional, diagnostic and therapeutic procedures, with product activity concentrated in cardiology, radiology, oncology, critical care and endoscopy. Company news commonly covers operating results, annual guidance, revenue presentation by Foundational and Therapeutic product categories, and portfolio actions involving acquired or divested device lines.
Recurring updates also include commercial launches and distribution arrangements for products such as the Resilience Through-the-Scope Esophageal Stent, ViaVerte basivertebral nerve ablation system, OneMark Detection Imaging System and OneMark Tissue Markers. Governance announcements and healthcare conference participation appear alongside financial and product disclosures.
Merit Medical Systems (MMSI) has announced the successful enrollment of the first patient in the WRAP Registry Study, aimed at assessing the safety and efficacy of the WRAPSODY Cell-Impermeable Endoprosthesis for hemodialysis patients. This international study will enroll up to 500 patients facing vascular access issues due to stenosis or occlusion. It will monitor clinical outcomes over two years, providing critical real-world evidence that may enhance treatment options for over two million global dialysis patients suffering from vascular complications.
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Merit Medical Systems reported Q1 2022 revenue of $275.4 million, up 10.6% from Q1 2021. Organic revenue grew 11.3%, while GAAP EPS was $0.18 compared to $0.19 in the prior year. Non-GAAP EPS increased to $0.53, slightly up from $0.52. The company anticipates a revenue increase of 4%-6% for 2022, expecting continued improvements in the operating environment. As of March 31, 2022, Merit had $56 million in cash and long-term debt of $253 million. The earnings call is scheduled for April 27, 2022.
Merit Medical Systems, Inc. (NASDAQ: MMSI) announced the retirement of Chief Operating Officer Ronald A. Frost after over 30 years of service. Neil Peterson, a company veteran with 27 years of experience, has been appointed as the new COO. Peterson previously served as Vice President of Operations, overseeing operations in South Jordan, Utah. CEO Fred P. Lampropoulos praised Frost's contributions and expressed confidence in Peterson's capabilities to lead global operations effectively.
Merit Medical Systems (NASDAQ: MMSI) announced that Brian G. Lloyd, its Chief Legal Officer, has received the Corporate Counsel Award from Utah Business Magazine. The award honors exceptional in-house lawyers supporting businesses in Utah. Lloyd has led the company's legal affairs since 2016, overseeing governance and key transactions that have contributed to the company achieving over $1 billion in annual revenues. The award ceremony will take place at The Grand America Hotel in Salt Lake City on April 21, 2022.
Merit Medical Systems (NASDAQ: MMSI) has launched the ReSolve® Thoracostomy Tray, designed to support minimally invasive procedures for draining fluids or air from the chest. This tray organizes all necessary components for a thoracostomy, enhancing procedural efficiency and patient care. The urgency of thoracostomy procedures can be life-saving, especially in cases of traumatic injuries. The new tray represents a step forward in improving patient outcomes and simplifying physician tasks, reflecting Merit’s commitment to innovative healthcare solutions.
Merit Medical Systems, Inc. (NASDAQ: MMSI) announced that it will release its financial results for Q1 2022 on April 27, 2022, after market close. An investor conference call is scheduled for the same day at 5:00 p.m. Eastern, where interested parties can participate via domestic and international phone lines or through a live webcast on merit.com. Founded in 1987, Merit Medical specializes in proprietary disposable devices for interventional, diagnostic, and therapeutic procedures across various medical fields.
Merit Medical Systems has received FDA clearance for its new SCOUT Bx Delivery System, a wire-free breast localization solution that streamlines the biopsy process. This innovative technology allows for the placement of a tiny reflector during stereotactic or MRI-guided biopsies, eliminating the need for an additional office visit. Annually, over 300,000 women undergo breast cancer surgery, and the SCOUT Bx can enhance surgical precision. This system builds on Merit's established SCOUT technology, used in nearly 300,000 procedures globally, aiming to improve patient outcomes.
Merit Medical Systems, Inc. (NASDAQ: MMSI) has received FDA breakthrough device designation for its Embosphere® Microspheres for Genicular Artery Embolization (GAE) aimed at treating knee osteoarthritis. This designation accelerates the review process and enhances communication between the FDA and Merit, potentially leading to quicker market access. The Embosphere Microspheres, used in over 250,000 procedures, are recognized for their effectiveness in embolotherapy. Chairman and CEO Fred P. Lampropoulos emphasized the designation's role in expanding treatment options for patients.
Merit Medical Systems reported a strong Q4 2021, with revenue of $278.5 million, an increase of 7.9% year-over-year, and a 32% rise in GAAP EPS to $0.36. For FY21, the company achieved revenues of $1.075 billion, up 11.5%, and non-GAAP EPS of $2.37, a 43% increase. Noteworthy segments include a 18.6% revenue growth in Cardiovascular Peripheral Intervention. The company also projected a 4%-6% revenue increase for FY22. Merit's gross margin improved significantly, showcasing efficient cost management amidst inflationary pressures.