Merit Medical snags EN Snare
This article was originally published in The Gray Sheet
Executive Summary
Foreign body retrieval device is acquired from medical technology incubator Hatch Medical for $21 million. Cleared via 510(k) in 2002, the endovascular snare is used for retrieval and removal of stents, vena cava filters and embolic coils, as well as the manipulation of abdominal aortic aneurysm stent grafts, Merit Medical says. The device generates worldwide sales of about $6 million. Merit, which makes disposable interventional and diagnostic devices, will pay $14 million up-front for EN Snare, with an additional $7 million contingent upon completion of certain milestones. While EN Snare marks Merit's entry into the snare market, the firm "intends to offer additional snare products for gastroenterology and cardiology in the future," Merit says. "Overall, we believe the combined market opportunities for snare products exceed $125 million.