Merit Medical Ireland Wins Medtech Company of the Year Award 2018
December 10 2018 - 9:25AM
Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer
and marketer of proprietary disposable devices used in
interventional, diagnostic and therapeutic procedures, particularly
in cardiology, radiology, oncology, critical care and endoscopy,
today announced that its subsidiary Merit Medical Ireland 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.
Merit Medical Ireland commenced operations in
Castlerea, Co Roscommon, Ireland in 1993 with 22 employees
manufacturing single-use inflation and hemostasis devices. Today,
Merit’s European operations are headquartered in Galway City,
Ireland, with approximately 1,000 employees. Merit now has two
state-of-the-art facilities (157,000 square feet) in Galway and
supports operations and R&D activities for Merit’s additional
European facilities in Roissy, France and Maastricht and Venlo, The
Netherlands. Merit’s European operations contributed
approximately 33% to Merit’s corporate revenues in 2017 and Merit’s
Galway facility is a recognized center of excellence. In the
last four years, revenues from Merit’s European operations have
increased by 74% with matching employee growth, while continuing to
execute on margins above Merit’s corporate average.
“We are pleased to be recognized as a premium
company in Ireland,” said Fred P. Lampropoulos, Merit’s Chairman
and CEO. “Our Irish operations continue to grow and prosper and
significantly contribute to our company’s overall success. We are
proud of the leadership and hard work of our Irish team.”
Merit Medical’s Executive Vice President,
European Operations, R&D and Strategy, Mark Butler, said, “We
are thrilled, honored and humbled to accept this award on behalf of
our dedicated team in Galway. We are proud to be recognized by the
industry, amongst so many great medtech companies throughout this
island.”
ABOUT MERITFounded in 1987, Merit Medical
Systems, Inc. is engaged in the development, manufacture and
distribution of proprietary disposable medical devices used in
interventional, diagnostic and therapeutic procedures, particularly
in cardiology, radiology, oncology, critical care and
endoscopy. Merit serves client hospitals worldwide with a
domestic and international sales force and clinical support team
totaling in excess of 300 individuals. Merit employs
approximately 5,600 people worldwide with facilities in South
Jordan, Utah; Pearland, Texas; Richmond, Virginia; Malvern,
Pennsylvania; Rockland, Massachusetts; San Jose and Aliso Viejo,
California; Maastricht and Venlo, The Netherlands; Paris, France;
Galway, Ireland; Beijing, China; Tijuana, Mexico; Joinville,
Brazil; Markham, Ontario, Canada; Melbourne, Australia; Tokyo,
Japan; and Singapore.
FORWARD-LOOKING STATEMENTSStatements contained
in this release which are not purely historical 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, 2017 and subsequent filings with the
Securities and Exchange Commission. 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 completed,
proposed or future transactions; 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; governmental scrutiny
and regulation of the medical device industry, including
governmental inquiries, investigations and proceedings involving
Merit; restrictions on Merit's liquidity or business operations
resulting from its debt agreements; infringement of Merit's
technology or the assertion that Merit's technology infringes the
rights of other parties; product recalls and product liability
claims; changes in customer purchasing patterns or the mix of
products Merit sells; 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 or regulations;
laws and regulations targeting fraud and abuse in the healthcare
industry; potential for significant adverse changes in governing
regulations, including reforms to the procedures for approval or
clearance of Merit's products by the U.S. Food & Drug
Administration or comparable regulatory authorities in other
jurisdictions; changes in tax laws and regulations in the United
States or other countries; increases in the prices of commodity
components; negative changes in economic and industry conditions in
the United States or other countries; termination or interruption
of relationships with Merit's suppliers, or failure of such
suppliers to perform; fluctuations in exchange rates; concentration
of a substantial portion 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 healthcare policies or
markets related to healthcare reform initiatives; failure to comply
with applicable environmental laws; changes in key personnel; work
stoppage or transportation risks; introduction of products in a
timely fashion; price and product competition; availability of
labor and materials; 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, 2017 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 likely 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
CommunicationsPhone:
(801) 208-4167 e-mail:
awright@merit.com Fax: (801) 253-1688
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