SOUTH JORDAN, Utah, June 4, 2013 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (Nasdaq:MMSI), a leading manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and endoscopy today announced the opening of a hypotube manufacturing Center of Excellence in Galway, Ireland. The Center significantly enhances Merit's hypotube manufacturing capabilities and includes best-in-class design and production systems and advanced equipment and controls for producing customized hypotubes for uses including percutaneous transluminal coronary angioplasty (PTCA) balloon catheters. The Merit HypotubeTM is sold by Merit Medical's Coatings division.
"We've been coating and supplying hypotubes to the medical device OEM industry for many years," said Fred P. Lampropoulos, Chairman and CEO of Merit Medical Systems, Inc. "We made a commitment to become one of the world's leading hypotube manufacturers and have invested in the new equipment and expertise to do so."
Building on Merit Medical Coating's world-class PTFE wire and hypotube coating platform technologies, the capabilities of the new Center of Excellence include the newest and most precise laser cutting machines available for custom spiral-cutting, skive-cutting and slot-cutting; laser ablation machines for non-contact removal of coating from the hypotube surface; leak testing at higher pressures; laser welding including seam-welding and point-welding of stylets; an advanced, controlled inspection process to inspect the full diameter and length of tubes; a cleaning process that does not require harsh chemicals; passivation to add resistance to corrosion; and higher production capacity. Merit Medical has also added a new customer-focused team to drive strong development, partnership and supply.
A Center of Excellence designation refers to companies, facilities, or teams within companies that promote collaboration to improve expertise through best practices, research, and/or new technologies. For more information visit: www.meritmedicalcoatings.com/takeanewlook.
ABOUT MERIT
Founded in 1987, Merit Medical Systems, Inc. is engaged in the development, manufacture and distribution of proprietary disposable medical devices used in interventional and diagnostic procedures, particularly in cardiology, radiology and endoscopy. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 200 individuals. Merit employs approximately 2,750 people worldwide with facilities in Salt Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia; Malvern, Pennsylvania; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; Copenhagen, Denmark; and Rockland, Massachusetts.
ABOUT MERIT MEDICAL COATINGS
Merit Medical Coatings (www.meritmedicalcoatings.com) is a medical device component manufacturer and coating company. Merit Medical Coatings manufactures medical device components including hypotube/catheter shafts, guide wire components, needles and mandrels, and work with customers on custom solutions from the design phase through finishing details including coiling, laser cutting and ablation. Merit Medical Coatings is a world leader in the application of PFOA-free, PTFE and hydrophilic coating options for bulk quantities of medical wires and tubes. Merit Medical Coatings is a division of Merit Medical Systems, Inc., (Nasdaq:MMSI).
Statements contained in this release which are not purely historical, including, without limitation, statements regarding Merit's forecasted revenues, net income, financial results or anticipated acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to risks and uncertainties such as those described in Merit's Annual Report on Form 10-K for the year ended December 31, 2012. Such risks and uncertainties include risks relating to Merit's potential inability to successfully manage growth through acquisitions, including the inability to commercialize technology acquired through recent, proposed or future transactions; product recalls and product liability claims; expenditures relating to research, development, testing and regulatory approval or clearance of Merit's products and risks that such products may not be developed successfully or approved for commercial use; greater governmental scrutiny and regulation of the medical device industry; reforms to the 510(k) process administered by the U.S. Food and Drug Administration; compliance with governmental regulations and administrative procedures; potential restrictions on Merit's liquidity or its ability to operate its business by its current debt agreements; possible infringement of Merit's technology or the assertion that Merit's technology infringes the rights of other parties; the potential of fines, penalties, or other adverse consequences if Merit's employees or agents violate the U.S. Foreign Corrupt Practices Act or other laws and regulations; laws targeting fraud and abuse in the healthcare industry; potential for significant adverse changes in, or failure to comply with, governing regulations; the effect of changes in tax laws and regulations in the United States or other countries; increases in the price of commodity components; negative changes in economic and industry conditions in the United States and other countries; termination or interruption of relationships with Merit's suppliers, or failure of such suppliers to perform; fluctuations in Euro and GBP exchange rates; Merit's need to generate sufficient cash flow to fund its debt obligations, capital expenditures, and ongoing operations; concentration of Merit's revenues among a few products and procedures; development of new products and technology that could render Merit's existing products obsolete; market acceptance of new products; volatility in the market price of Merit's common stock; modification or limitation of governmental or private insurance reimbursement policies; changes in health care markets related to health care reform initiatives; failure to comply with applicable environmental laws; changes in key personnel; work stoppage or transportation risks; uncertainties associated with potential healthcare policy changes which may have a material adverse effect on Merit; introduction of products in a timely fashion; price and product competition; availability of labor and materials; cost increases; fluctuations in and obsolescence of inventory; and other factors referred to in Merit's Annual Report on Form 10-K for the year ended December 31, 2012 and other materials filed with the Securities and Exchange Commission. All subsequent forward-looking statements attributable to Merit or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results will differ, and may differ materially, from anticipated results. Financial estimates are subject to change and are not intended to be relied upon as predictions of future operating results, and Merit assumes no obligation to update or disclose revisions to those estimates.
CONTACT: Anne-Marie Wright, Vice President, Corporate Communications Phone: (801) 208-4167 e-mail: awright@merit.com Fax: (801) 253-1688
