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SOUTH JORDAN, Utah, June 11, 2014 (GLOBE NEWSWIRE) -- Merit Medical Systems, Inc. (Nasdaq:MMSI), a leading manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and endoscopy, announced several new product introductions and corporate developments that will be discussed today at its annual meeting of shareholders.
Merit reported today that it has received approval from the Chinese government (CFDA) for its Classic Splittable Sheath™. This sheath is used for the placement of cardiac rhythm management products, such as pacemakers.
"This product is a welcome addition to our expanding selection of products in our fastest growing market," said Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer.
Merit also announced plans to introduce four new products at its summer European sales meeting. These new products include the PreludeEASE™ Hydrophilic Radial Sheath which complements Merit's Think Radial™ program, the PHD™ Hemostatis Valve, the HeartSpan® Steerable Sheath and the ReSolve® Biliary Drainage Catheter.
"We believe this suite of new products will enhance our strategic product offering in a market which continues to grow at 30% year-to-date," Lampropoulos said.
Additionally, Merit announced that product sales through Merit Sensor Systems, which produces piezoresistive pressure sensors for various medical, industrial, defense and consumer applications, continue to expand at a rate of 100% year-to-date. This growth is coming from new product introductions as well as increased demand for existing products.
"Historically, Merit has utilized 50% of Merit Sensor Systems' capacity for medical applications," Lampropoulos said. "Under the leadership of Rick Russell, President of Merit Sensor Systems, development of new products has accelerated over the past few years and customers have responded enthusiastically. Although it is a relatively small part of the overall company, we believe Merit Sensor's growth will continue and contribute to overall company profitability for several years to come."
Founded in 1987, Merit Medical Systems, Inc. is engaged in the development, manufacture and distribution of proprietary disposable medical devices used in interventional and diagnostic procedures, particularly in cardiology, radiology and endoscopy. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 200 individuals. Merit employs approximately 3,000 people worldwide with facilities in South Jordan, Utah; Angleton and Pearland, Texas; Richmond, Virginia; Malvern, Pennsylvania; Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland; Beijing, China; and Rockland, Massachusetts.