June 19, 2019 — Merit Medical Systems Inc. announced it has acquired Brightwater Medical Inc., based in Temecula, Calif. Brightwater Medical’s primary product, the ConvertX, is a single device used to replace a series of interventional radiology devices and procedures used to treat severe obstructions of the ureter.
The transaction consists of a $35 million upfront payment and potential earn-out payments of up to $15 million based on receipt of CE mark approval and achievement of future sales targets.
Brightwater Medical was founded by Robert Smouse, M.D., professor of radiology and surgery, University of Illinois College of Medicine. The ConvertX system is designed to be implanted once and converted from a nephroureteral catheter to a nephroureteral stent without requiring sedation or local anesthesia. Brightwater Medical recently received U.S. Food and Drug Administration (FDA) clearance for the ConvertX biliary stent system.
Merit Medical Chairman and CEO Fred P. Lampropoulos said the ConvertX system complements Merit’s Resolve drainage catheter portfolio and potentially drives pull-through of other Merit products such as InQwire guide wires, Advocate PTA balloons and other vascular products.
Over the next several months, Merit Medical intends to maintain Brightwater Medical’s production capabilities in Temecula while duplicating those capabilities in its catheter facility in Pearland, Texas, prior to transferring the ConvertX manufacturing operations to its Pearland facility.
For more information: www.merit.com