Merit Medical to Acquire Thomas Medical Products From GE Healthcare

November 26, 2012—Merit Medical Systems, Inc. (South Jordan, UT) announced that it has entered into a stock purchase agreement to acquire Thomas Medical Products, Inc. (Malvern, PA) from GE Healthcare (Waukesha, WI) in an all-cash transaction valued at approximately $167 million, subject to customary postclosing adjustments. Merit currently anticipates that the proposed transaction will close before December 31, 2012.

According to Merit Medical's announcement, Thomas Medical Products designs and manufactures catheter-based vascular access delivery devices for diagnostic and therapeutic procedures in electrophysiology, cardiac rhythm management, interventional cardiology, and interventional radiology applications, primarily on an “original equipment manufacturer” basis. Merit currently anticipates that during the year ending December 31, 2012, Thomas Medical will generate revenues of approximately $37 million, the company stated.