PENTAX Medical Announces Sale of C2 CryoBalloon™ Product Line to Merit Medical Systems through Asset Purchase Agreement

Rhea-AI Summary

PENTAX Medical announced on October 15, 2025 an asset purchase agreement selling the C2 CryoBalloon™ technology to Merit Medical Systems (NASDAQ: MMSI). The C2 CryoBalloon, part of PENTAX Medical's therapeutic portfolio since 2017, provides controlled cryotherapy for Barrett's Esophagus and related GI disorders.

Under the agreement, Merit will integrate C2 into its Endoscopy portfolio, transfer product manufacturing to its facility in South Jordan, Utah, and hire several PENTAX Medical employees to support continuity. PENTAX Medical said the sale lets it sharpen focus on its core business of flexible reusable endoscopy and deepen clinical partnerships.

Positive

• Transaction announced on October 15, 2025
• C2 CryoBalloon in PENTAX portfolio since 2017
• Manufacturing transfer to Merit facility in South Jordan, Utah
• Several employees to join Merit for continuity
• PENTAX refocus on flexible reusable endoscopy

Negative

• PENTAX divests the C2 CryoBalloon therapeutic product line
• Product manufacturing will move away from PENTAX-controlled sites

Transaction supports PENTAX Medical's strategic focus on core flexible reusable endoscopy

MONTVALE, N.J., Oct. 15, 2025 /PRNewswire/ -- PENTAX Medical, a division of HOYA Group and a global leader in flexible reusable endoscopy, today announced an asset purchase agreement with Merit Medical Systems, Inc. (NASDAQ: MMSI), a global leader of healthcare technology, for the acquisition of the C2 CryoBalloon™ technology.

This strategic move allows PENTAX Medical to sharpen its focus on core endoscopic solutions while fostering deeper clinical partnerships.  

The C2 CryoBalloon™ has been part of PENTAX Medical's therapeutic portfolio since 2017, offering a minimally invasive option to treat patients suffering from Barrett's Esophagus and other gastrointestinal disorders. The minimally invasive device delivers controlled cryotherapy to ablate unwanted tissue while preserving surrounding structures. Under Merit Medical's stewardship, the technology is expected to reach new levels of adoption and impact, expanding access to care for patients suffering from chronic GERD and related conditions.

"C2 technology has been an exciting part of our innovation journey," said Dominique Vincent, President of PENTAX Medical. "We are proud of the clinical value it has delivered and are confident that Merit Medical, with its expanding footprint in upper GI treatments and deep expertise in therapeutic endoscopy, is ideally positioned to unlock the full potential of C2. This transition allows PENTAX Medical to refocus on our core strength—flexible reusable endoscopy—and continue delivering intuitive solutions that empower clinicians worldwide."

Merit Medical will integrate the C2 CryoBalloon™ into its Endoscopy portfolio, complementing its existing products and customer base. Over the coming months, product manufacturing will be transferred to Merit's facility in South Jordan, Utah. Several PENTAX Medical employees will be joining Merit, bringing valuable expertise and continuity to the team.

The agreement reinforces PENTAX Medical's strategic focus on its core strength—flexible reusable endoscopy—and its commitment to delivering intuitive solutions that empower clinicians worldwide.

About PENTAX Medical

PENTAX Medical, a division of the HOYA Group, is a global player in flexible, reusable endoscopy solutions. The company develops, manufactures, distributes, and services endoscopic equipment worldwide. PENTAX Medical is committed to delivering intuitive, flexible endoscopy solutions that empower healthcare professionals to provide outstanding care. Its mission is to maintain product excellence while collaborating closely with clinical partners to understand and address their daily challenges, workflows, and goals. At the core of this mission is a commitment to reliability and high-quality imaging—fundamental requirements for clinical performance. Building on this foundation, PENTAX Medical delivers solutions that integrate seamlessly into clinical practice, supported by ergonomic and ease-of-use innovations, practical clinical education, and personalized, attentive customer support.  
For more information, please visit our website: https://www.pentaxmedical.com. 

About Merit Medical

Founded in 1987, Merit Medical Systems, Inc. is engaged in the development, manufacture, and distribution of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit serves customers worldwide with a domestic and international sales force and clinical support team totaling more than 800 individuals. Merit employs approximately 7,300 people worldwide.                                                                      

About HOYA

HOYA Corporation, founded in Tokyo in 1941, is a global leader in healthcare and technology innovation. HOYA provides advanced products for life care, including eyeglass lenses, intraocular lenses, and medical endoscopes, as well as high-precision components that support today`s information society, such as mask blanks for semiconductor manufacturing, glass substrates for hard disk drives, and optical components for imaging systems. With over 150 offices worldwide and a team of approximately 38,000 professionals, HOYA is committed to advancing technologies that contribute to a more sustainable future. For more details, please visit our website: https://www.hoya.com/en.

View original content:https://www.prnewswire.com/news-releases/pentax-medical-announces-sale-of-c2-cryoballoon-product-line-to-merit-medical-systems-through-asset-purchase-agreement-302585187.html

SOURCE PENTAX Medical

FAQ

What did PENTAX Medical announce about the C2 CryoBalloon on October 15, 2025?

PENTAX announced an asset purchase agreement selling the C2 CryoBalloon technology to Merit Medical (NASDAQ: MMSI) on October 15, 2025.

How will the C2 CryoBalloon transition affect manufacturing and staff?

Manufacturing will be transferred to Merit's facility in South Jordan, Utah, and several PENTAX Medical employees will join Merit to support continuity.

Why did PENTAX Medical sell the C2 CryoBalloon to Merit Medical (MMSI)?

PENTAX said the sale lets it sharpen focus on its core business of flexible reusable endoscopy and deepen clinical partnerships.

What clinical uses does the C2 CryoBalloon serve and how long was it with PENTAX?

The C2 CryoBalloon delivers controlled cryotherapy to ablate tissue for Barrett's Esophagus and related GI disorders and was part of PENTAX Medical's portfolio since 2017.

What does the acquisition mean for Merit Medical (MMSI)?

Merit will integrate the C2 CryoBalloon into its Endoscopy portfolio, which the companies say could expand adoption and patient access to upper GI cryotherapy.