Merit Medical Systems

Merit Medical Systems Overview

Company Headquarters: Utah, US

Founded: 1987

Workforce: 5,600

Company Working: Merit Medical Systems is engaged in the development, manufacture, and distribution of proprietary disposable medical devices. The company’s product portfolio is used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care, and endoscopy. Merit Medical Systems has a global distribution network and delivers products and therapies to customers around the world. The company operates in two reportable segments, namely, cardiovascular and endoscopy. The company has research and development (R&D) facilities in the US, the Netherlands, France, Ireland, China, Mexico, Brazil, Canada, Australia, Japan, and Singapore. In December 2018, Merit Medical Ireland, a subsidiary of Merit Medical Systems, won the Medtech Company of the Year Award 2018, a prestigious award granted by a panel consisting of Irish business enterprise and governmental agency leaders for the company’s overall success.

Strategy

Merit Medical Systems emphasizes on R&D productivity while maximizing the value of its current brands and in-line portfolio. Also, the company focuses on expanding its existing product portfolio through future organic growth. It aims to achieve stable earning and sound financing, through long term and sustainable, successful development forms. By collaborating with new healthcare providers and technology companies, the company intends to develop devices and technologies to amplify the benefits of its core products.

Company Snapshot

$603.8M

Revenue

5,600

Employees

1987

Founded

Utah, US

Headquarters

SWOT Analysis

Strengths

Strong distribution network and worldwide presence
Strong acquisitions and collaborations history in the interventional business unit
Robust sales and marketing capabilities
Partnerships with major public and private organizations and an inactive participant in several seminars, workshops, and trade fairs

Weaknesses

Operational failures
Acquisitions could strengthen the growth rates and profitability

Opportunities

Geographical expansion
Acquisitions could strengthen the growth rates and profitability

Threats

Pressures on pricing and reimbursement for products
Growing competition from other companies
Stringent political and regulatory environment

Key Developments

Date	Approach	Development
April 2019	Expansion	Merit Medical Systems opened an office in Johannesburg, South Africa. The company aims to expand its healthcare customer base in Africa with this move.
March 2019	Product Approval	The company announced that its Embosphere Microspheres has been approved for an additional indication, embolization of blood vessels to occlude blood flow in the peripheral vasculature, by the US Food and Drug Administration (FDA).
November 2018	Product Approval	Merit Medical Systems announced that the company was granted an application from Health Canada to expand the indication for Embosphere Microspheres for prostatic artery embolization (PAE) procedures for the treatment of symptomatic benign prostatic hyperplasia (BPH) in people with medication-refractory urinary obstructive symptoms.

Product Offering

Merit Medical Systems
- Embolotherapy: Microspheres
- Embolotherapy: Hepatic Oncology
- Embolotherapy: Embolization Particles

Financial Performance

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