Merit Medical Signs Agreement to Acquire Cook Medical’s Lead Management Portfolio

• Acquisition of assets from Cook Medical’s end-to-end lead management product portfolio strengthens Merit’s existing electrophysiology and CRM businesses
• The asset acquisition is expected to generate approximately $40 million in annualized revenues beginning in fiscal year 2025, with a solid growth profile serving an underserved global lead management market
• Merit reaffirms the full year 2024 financial guidance previously issued on August 1, 2024 and updates the full year 2024 financial guidance to include the expected post-closing impact of this acquisition

SOUTH JORDAN, Utah, Sept. 17, 2024 (GLOBE NEWSWIRE) — Merit Medical Systems, Inc. (NASDAQ: MMSI), a global leader in healthcare technology, today announced that it has signed a definitive asset purchase agreement to acquire the lead management portfolio of Cook Medical for total cash consideration of approximately $210 million. Merit expects to finance the transaction through a combination of cash on hand and borrowings under its long-term credit facility. Closing of the proposed transaction is expected to occur in the fourth quarter of 2024, subject to the receipt or waiver (in accordance with the terms of the asset purchase agreement) of certain closing conditions, including approval under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other customary closing conditions.

Cook Medical’s Lead Management division has been in business for 34 years and offers a comprehensive end-to-end product portfolio of medical devices and accessories used in lead management procedures for patients requiring removal or replacement of their pacemaker or implantable cardioverter defibrillator (ICD) lead.