Merit Medical Systems Inc - MMSI STOCK NEWS

Merit Medical Systems has expanded its SwiftNINJA Steerable Microcatheter line with new low-profile 2.4F distal diameter options and longer lengths of 125 cm and 150 cm. The microcatheter provides a 180-degree articulation designed for easier access to challenging vascular areas without a guide wire, potentially reducing procedure time and radiation exposure. The SwiftNINJA stands out as the only widely available steerable microcatheter in the U.S., allowing greater versatility in complex procedures. Founded in 1987, Merit develops and markets devices used in various medical fields, employing over 7,100 individuals globally.

Merit Medical Systems (NASDAQ: MMSI) reported Q4 2022 revenue of $293.4 million, a 5.4% increase from Q4 2021. Constant currency organic revenue rose 8.2%. The GAAP operating margin improved to 10.4% from 7.9%, while non-GAAP operating margin increased to 17.8%. GAAP EPS was $0.58, up from $0.36, and non-GAAP EPS reached $0.79, compared to $0.71. The company anticipates 2023 revenue of $1.194-$1.210 billion, projecting a 4%-5% growth year-on-year. Merit ended 2022 with $58.4 million in cash and cash equivalents and $198.2 million in total debt.

Merit Medical Systems has received FDA Breakthrough Device Designation for its SCOUT MD Surgical Guidance System, enhancing surgical precision for breast and soft tissue cancer treatments. This innovative system allows the implantation of up to four unique reflector configurations, improving tumor localization and minimizing damage to healthy tissue, thereby reducing the need for repeat surgeries. With breast cancer being the most common cancer globally, representing 12.5% of new cases, the SCOUT MD aims to optimize surgical outcomes and patient care. Merit commits to advancing oncology technologies, enhancing patient experiences in cancer treatment.

Merit Medical Systems, Inc. (NASDAQ: MMSI) has announced that it will release its financial results for the fourth quarter and full year of 2022 on February 22, 2023, following the market close. Alongside this, the company will provide guidance for fiscal year 2023. An investor conference call is scheduled for the same day at 5:00 p.m. Eastern time.

Merit is known for its healthcare technology solutions, serving hospitals globally with a dedicated workforce of over 7,100 employees across various locations, including the U.S. and several countries in Europe, Asia, and South America.

Merit Medical Systems (NASDAQ: MMSI) has successfully enrolled its first patient in a new observational study of EmboCube Embolization Gelatin, a product designed to control bleeding during trauma. This minimally-invasive embolization technique is crucial as uncontrolled bleeding is a leading cause of preventable death globally. The EmboCube, which offers uniformly pre-cut gelatin foam for efficient delivery, is currently approved in Europe and Canada but not yet in Australia. The study aims to enroll 100 patients across Australia and France.

Merit Medical Systems has launched the basixALPHA™ Inflation Device for angioplasty procedures, aiming to enhance efficiency and ease of use. This ergonomic device allows for one-handed preparation and fast inflation, crucial for opening blocked arteries and enhancing blood flow to the heart. With over 10 million procedures completed using Merit’s inflation devices, this innovation continues the company's leadership in healthcare technology. The basixALPHA is part of a robust portfolio supporting the annual 1.2 million coronary angioplasties conducted in the U.S.

Merit Medical Systems, Inc. (NASDAQ: MMSI) announced that its Chairman and CEO, Fred Lampropoulos, received the 2022 Manufacturing Leader of the Year Award from the Utah Manufacturers Association. The award recognizes excellence in leadership within Utah’s manufacturing sector. Lampropoulos highlighted the challenges of supply chain interruptions but emphasized the company's innovative responses to continue product delivery. With over 30 years in operation, Merit has grown its revenue to over $1 billion and maintains ISO certifications across its global manufacturing facilities.

Merit Medical Systems has reached a settlement in the derivative action, Maute v. Lampropoulos, resolving claims against former directors for allegedly breaching fiduciary duties through misleading statements regarding the integration of Cianna Medical and ClariVein assets. The settlement hearing is set for February 16, 2023, to assess the fairness and adequacy of the settlement terms. Merit will implement governance reforms as detailed in the stipulation. Both Merit and the Individual Defendants deny wrongdoing and liability.

Merit Medical Systems has appointed Joe Wright as its new Chief Commercial Officer, overseeing global commercial activities. With over 17 years at Merit, most recently as President of International, Wright brings extensive leadership experience across various regions. This restructuring aims to enhance alignment and strengthen commercial capabilities, supporting the company's growth strategy. Chairman Fred P. Lampropoulos emphasized Wright's track record of driving growth and innovation, crucial for improving patient outcomes.