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Merit Medical Systems (NASDAQ: MMSI) announced the election of Silvia M. Perez to its Board of Directors during the Annual Meeting of Shareholders on May 15, 2024. Perez, who is currently the President of the Commercial Branding and Transportation Division at 3M Company, brings over two decades of healthcare industry experience, covering clinical, regulatory, operations, marketing, and business leadership. Perez, along with re-elected directors Fred P. Lampropoulos and Stephen C. Evans, will serve three-year terms. Perez's varied background includes roles such as President of Commercial Solutions Division and Vice President of Acelity at 3M, the company's largest acquisition. She holds a pharmaceutical chemist degree and Six Sigma certifications. Merit Medical emphasizes her potential to contribute valuable industry and organizational insights to support its growth initiatives.
Merit Medical Systems announced the appointment of Joe Wright as President, effective immediately. Wright, who has been with the company for 19 years, previously served as Chief Commercial Officer and President of the International Division. He will oversee global commercial, marketing, and manufacturing operations. The appointment is part of Merit’s Continued Growth Initiatives Program, which emphasizes investment in talent to drive growth and profitability. The company is also in the process of identifying a successor for CEO Fred P. Lampropoulos, who will retire at the end of 2025.
Merit Medical (NASDAQ: MMSI) has expanded its embolics portfolio with the FDA-cleared Siege Vascular Plug and the launch of Bearing nsPVA Express Prefilled Syringe in the US and Australia. These products complement existing microsphere, particle, and foam offerings. The Siege Vascular Plug, available in three sizes, offers rapid vessel occlusion within 1.3 minutes, enhancing precision in peripheral artery treatments. The Bearing nsPVA Express, a 20-mL prefilled syringe, simplifies procedures by saving time and reducing waste. Both products will be showcased at the 18th Annual GEST Meeting (May 16-19, 2024) in New York, where Merit will also exhibit other embolic solutions and delivery systems.
Merit Medical Systems, Inc. reported strong financial performance for Q1 2024 with a revenue increase of 8.7% to $323.5 million compared to Q1 2023. The company's GAAP operating margin improved to 11.1%, GAAP EPS rose to $0.48, and non-GAAP EPS increased to $0.77. Merit reaffirmed its fiscal year 2024 guidance with expectations of continued growth and profitability.
