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September 17, 2024
Merit Medical Acquires Lead Management Portfolio from Cook Medical
September 17, 2024—Merit Medical Systems, Inc. announced it has signed a definitive asset purchase agreement to acquire Cook Medical’s lead management portfolio.
The company stated that Cook’s lead management business, which has 34 years of operating history, includes a comprehensive end-to-end product portfolio of medical devices and accessories used in lead management procedures for patients who need a pacemaker or an implantable cardioverter defibrillator lead removed or replaced.
According to Merit, the agreement includes a total cash consideration of approximately $210 million, which the company expects to fund the transaction through a combination of cash on hand and borrowings under its long-term credit facility.
The closing of the proposed transaction is expected to occur during the fourth quarter of 2024, subject to the receipt or waiver (in accordance with the provisions of the asset purchase agreement) of certain closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary closing conditions, advised Merit in its press release.
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