As the year comes to a close, I am looking back on 2012 and realizing what an amazing year it has been for Merit Medical. Here are a few of our accomplishments in 2012:
Positive Sales Growth
2012 not only marked Merit’s 25th anniversary, but also 25 straight years of positive sales growth. This is impressive considering how much the struggling economy has impacted many medical device companies in our space. We’re very proud of that.
The company continues to launch new products, which it has done every year since its founding in 1987. In 2012 we introduced the Blue Diamond™ digital inflation device, the BowTie™ guide wire insertion device, the EndoMAXX® fully covered esophageal stent, and the ONE Snare™ endovascular snare system. We also received 510(k) clearance from the FDA to market the Merit Laureate® hydrophilic guide wire in the United States.
New Product Acquisitions, Alliances and Distribution Agreements
In January, we purchased the Ostial PRO® stent positioning system. In February, we signed a distribution agreement for the Clo-Sur PLUS P.A.D.™ antimicrobial pressure applied device. In September, we purchased the Centros® long-term hemodialysis catheter (and added the CentrosFLO® long-term hemodialysis catheter). In November, we purchased the Flex-Neck® peritoneal dialysis catheter and related products. Recently we announced that Merit entered into a Stock Purchase Agreement to acquire Thomas Medical, Inc. from GE Healthcare, adding products that are recognized as “gold standard” by many of the leading cardiac rhythm management (CRM) and electrophysiology (EP) market participants.
By the end of the year Merit will complete the construction of a new 255,000 square-foot, state-of-the-art, finished goods warehouse and manufacturing facility in South Jordan. We also announced a new R&D facility in Pearland, Texas – a 118,000 square-foot, two-story facility. We completed the expansion of our “Vision Facility” in Galway, Ireland for the assembly of custom procedure packs in Europe.
We’re doing our part to help the global economy through the creation of jobs. At the end of 2011, Merit employed about 2,400 employees worldwide, at the end of 2012 we employ more than 2,600 talented people who will help us grow in the future.
2012 was truly a great year for Merit, but 2013 looks even brighter! Each year we look forward to establishing annual priorities that will help us better serve our customers and further our mission and goals. I’m optimistic about what the New Year holds for our company and for our customers!
Larry Tolman, Vice President, Business Analytics