MERIT MEDICAL SYSTEMS DESIGNS AND PRODUCES SAMPLE COLLECTION AND TRANSPORT KIT
April 20 2020 - 9:25AM
Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer
and marketer of proprietary disposable devices used primarily in
cardiology, radiology and endoscopy, announced today that it has
commenced production of a sample collection and transport kit,
comprised of a nasopharyngeal swab and transport vial, used to
collect specimens with suspected presence of Coronavirus Disease
2019 (COVID-19). The kit will be produced at Merit’s facility in
South Jordan, Utah, with other Utah companies providing various
services.
For the last several weeks, officials from Merit
and the State of Utah have been working together in anticipation of
an impending swab shortage.
“We have directed resources to the development
of this kit, and our engineers, technicians, marketers and
production staff have responded by working tirelessly to bring this
important product to market in 30 days,” said Fred P. Lampropoulos,
Merit’s Chairman and CEO. “We are especially pleased to provide
this kit at a time when testing is an essential element of
combatting the COVID-19 pandemic. We are increasing our tooling and
production capacity to meet future anticipated demand.”
Merit has received its first purchase order for
the product for $2.4 million from the State of Utah.
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 6,100 people
worldwide with facilities in South Jordan, Utah; Pearland, Texas;
Richmond, Virginia; Malvern, Pennsylvania; Rockland, Massachusetts;
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; Reading, United Kingdom; Johannesburg, South Africa;
and Singapore.
FORWARD-LOOKING
STATEMENTSStatements contained in this release which are
not purely historical, including, without limitation, statements
regarding Merit’s future product development and commercialization,
as well as projected sales of those products, 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, 2019 and subsequent filings with the
Securities and Exchange Commission. Such risks and uncertainties
include inherent risks and uncertainties relating to Merit’s
potential inability to successfully commercialize technology
developed internally or acquired through completed, proposed or
future transactions; negative changes in economic and industry
conditions in the United States or other countries, particularly
changes resulting from the ongoing COVID-19 pandemic; 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; actions
of activist shareholders, including a proxy contest; product
recalls and product liability claims; changes in customer
purchasing patterns or the mix of products Merit sells; risks and
uncertainties associated with Merit’s information technology
systems, including the potential for breaches of security and
evolving regulations regarding privacy and data protection;
potential for significant adverse changes in governing regulations,
including reforms to the procedures for approval or clearance of
Merit’s products by the FDA or comparable regulatory authorities in
other jurisdictions; increases in the prices of commodity
components; 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; changes in tax laws and regulations in the United States
or other countries; increases in the prices of commodity
components; termination or interruption of relationships with
Merit’s suppliers, or failure of such suppliers to perform;
fluctuations in exchange rates; uncertainties relating to the LIBOR
calculation method and the expected discontinuation of LIBOR;
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 or future 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 referenced in Merit’s Annual Report on Form 10-K for the
year ended December 31, 2019 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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