Merit Medical receives FDA clearance for vascular plug By Investing.com

SOUTH JORDAN, Utah – Merit Medical Systems , Inc. (NASDAQ:), a key player in healthcare technology, has announced the FDA 510(k) clearance of its Siege Vascular Plug, alongside the launch of its Bearing nsPVA Express Prefilled Syringe in the United States and Australia. These products join Merit’s extensive Embolics portfolio, aimed at enhancing embolotherapy, a minimally invasive treatment method that blocks blood flow to targeted areas for therapeutic purposes.

The Siege Vascular Plug, notable for its rapid vessel occlusion capability of approximately 1.3 minutes, is designed for precision and is recapturable, allowing for adjustments during placement. Its compatibility with a microcatheter and availability in three sizes makes it versatile for peripheral arteries ranging from 1.5 mm to 6.0 mm in diameter.

Dr. Gary Siskin, a paid consultant for Merit and Chair of Radiology at Albany Medical Center, emphasizes the plug’s importance in clinical practice due to its quick occlusion and precise placement.

In addition to the plug, Merit has introduced the Bearing nsPVA Express, a prefilled syringe containing Bearing nsPVA® Embolization Particles used in embolization procedures. The product is designed for convenience, potentially saving clinicians time and reducing waste. Dr. Jafar Golzarian, an interventional radiologist, highlighted the syringe’s ease of use compared to traditional vial products, noting its readiness and the ability for radiologists to concentrate on procedures without additional preparation steps.

Merit will showcase these innovations, along with other embolic solutions like Embosphere® Microspheres and Torpedo Gelatin Foam, at the upcoming 18th Annual Global Embolization Oncology Symposium Technologies (GEST) Meeting from May 16-19, 2024, in New York City. The company will also feature its SwiftNINJA® Steerable Microcatheter and Merit Maestro® Microcatheter at the event, providing hands-on workshops for attendees.

Fred P. Lampropoulos, CEO of Merit, expressed the company’s commitment to embolotherapy through ongoing product development and innovation, aiming to enhance the patient experience in healthcare.

Founded in 1987, Merit Medical focuses on disposable medical devices for various procedures, employing around 7,000 people globally. This announcement is based on a press release statement.

InvestingPro Insights

Merit Medical Systems, Inc. (NASDAQ:MMSI) has recently made significant strides in the healthcare technology sector with the FDA clearance of its Siege Vascular Plug and the launch of the Bearing nsPVA Express Prefilled Syringe. As the company continues to innovate and expand its Embolics portfolio, investors and industry watchers are keeping a close eye on its financial health and market performance.

According to InvestingPro data, Merit Medical Systems boasts a market capitalization of approximately $4.7 billion. The company’s P/E ratio is currently high at 45.97, suggesting that investors may expect future earnings growth. The P/E ratio, adjusted for the last twelve months as of Q1 2024, is slightly lower at 44.99. This high earnings multiple could be indicative of the market’s confidence in the company’s future growth prospects, particularly in light of the recent product launches.

InvestingPro Tips indicate that analysts are predicting Merit Medical to be profitable this year, with net income expected to grow. This aligns with the company’s recent FDA 510(k) clearance and product launches, which could potentially drive revenue and earnings. Additionally, Merit Medical operates with a moderate level of debt and has liquid assets that exceed short-term obligations, providing financial stability and flexibility.

For those interested in a deeper dive into Merit Medical’s financial metrics and potential investment opportunities, InvestingPro offers additional insights. With 13 more InvestingPro Tips available, including analysis of the company’s valuation multiples and stock volatility, investors can gain a more comprehensive understanding of Merit Medical’s financial position. To access these insights, visit InvestingPro and use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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