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Merit Medical Systems, Inc ,announced that the previously signed definitive agreements to acquire the assets of Alveolus, Inc. have been closed. Merit Medical Systems, Inc., a leading manufacturer and marketer of proprietary disposable devices used primarily in cardiology, radiology and gastroenterology procedures, announced that the previously signed definitive agreements to acquire the assets of Alveolus, Inc., and Biosearch Medical Products, Inc. have been closed.

The combined purchase price of approximately $20.6 million was paid from cash reserves and is subject to post-closing adjustments.

"We are pleased with the closing of these transactions and will now initiate our strategy for a new business unit," said Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer.

ABOUT Merit Medical Systems, Inc.

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 gastroenterology. Merit serves client hospitals worldwide with a domestic and international sales force totaling approximately 100 individuals. Merit employs approximately 1,700 people worldwide, with facilities in Salt Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia; Maastricht and Venlo, The Netherlands; and Galway, Ireland.

SOURCE: Merit Medical Systems, Inc.