Merit Medical Systems, Inc. (MMSI) is a leading manufacturer and marketer of proprietary medical devices used in interventional, diagnostic, and therapeutic procedures. The company operates through two primary segments: cardiovascular and endoscopy, offering a diverse range of products that emphasize quality, value, and safety. MMSI designs and manufactures devices for various clinical areas, including radiology, cardiology, oncology, and gastroenterology.
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Cardiovascular Segment - Offers devices for peripheral and cardiac interventions, custom procedural solutions, and OEM products, serving areas like cardiology, radiology, and electrophysiology.
- Peripheral Intervention - Provides products for diagnosing and treating coronary arterial disease, peripheral vascular disease, and other non-vascular diseases.
- Cardiac Intervention - Includes products for cardiac rhythm management, electrophysiology, and fluid management.
- Custom Procedural Solutions - Offers kits and critical care products tailored to customer needs.
- OEM (Original Equipment Manufacturer) - Manufactures access, vertebral compression fracture, and fluid management products for other companies.
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Endoscopy Segment - Focuses on gastroenterology and pulmonology devices, assisting in the palliative treatment of expanding esophageal, tracheobronchial, and biliary strictures caused by malignant tumors.
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Name | Position | External Roles | Short Bio | |
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Fred P. Lampropoulos ExecutiveBoard | Chairman, President, and CEO | Fred P. Lampropoulos is the Chairman, President, and Chief Executive Officer of Merit Medical Systems, Inc. since its inception in 1987, driving the company's growth with innovations and over 300 patents. He has also served as a director on the board since July 1987. | View Report → | |
Raul Parra ExecutiveBoard | Chief Financial Officer and Treasurer | Director and Audit Committee Chair at American Express National Bank | Raul Parra has served as the Chief Financial Officer and Treasurer of MMSI since July 2018. He previously held roles as Vice President of Accounting, Corporate Controller, and Director of Financial Reporting, and currently serves as the Director and Audit Committee Chair at American Express National Bank since 2022. | |
Brian G. Lloyd Executive | Chief Legal Officer and Corporate Secretary | Brian G. Lloyd has been the Chief Legal Officer and Corporate Secretary at MMSI since April 2016, and he brings over 20 years of legal expertise from prior roles at Parr Brown Gee & Loveless, PC and Stoel Rives, LLP. | ||
Michel J. Voigt Executive | Chief Human Resources Officer | Michel J. Voigt has served as the Chief Human Resources Officer at MMSI since December 2020. He previously held senior HR roles at Mavenir Systems, Galderma/Nestlé Skin Health, Lexicon Pharmaceuticals, and Verizon. | ||
Neil W. Peterson Executive | Chief Operating Officer | Neil W. Peterson has served as the Chief Operating Officer at MMSI since April 2022 and has over 30 years of service to the company, having previously served as Vice President of Operations. | ||
David K. Floyd Board | Independent Director | Board Chair at Corin Group LTD ; Board Member and Operations Committee Chair at Health Outcomes Performance Company (HoPCo) ; Senior Advisor at Permira | David K. Floyd is an Independent Director at MMSI since June 2020 with over 35 years of experience in the life sciences industry, having served in key leadership roles at companies including Stryker Corporation and Johnson & Johnson’s DePuy Orthopaedics. | |
F. Ann Millner Board | Lead Independent Director | Regents Professor and Professor of Health Administrative Services at Weber State University; Member of the Utah State Senate; Executive Committee member of National Conference of State Legislatures; Member of Board of Trustees of Intermountain Health | F. Ann Millner has served as the Lead Independent Director at MMSI since July 2015, contributing to the Governance and Sustainability and Compensation Committees. She brings extensive experience in executive leadership, academic administration, and legislative roles. | |
Laura S. Kaiser Board | Independent Director | CEO of SSM Health; Board Director, American Hospital Association | Laura S. Kaiser has served as an Independent Director at MMSI since May 2022, bringing over 35 years of healthcare experience. She is also the President and CEO of SSM Health since 2017 and a Board Director of the American Hospital Association since 2024. | |
Lonny J. Carpenter Board | Independent Director | Orchid Orthopedics Solutions Board of Directors; The Boler Company Board of Directors | Lonny J. Carpenter has served as an Independent Director at MMSI since June 2020, chairing the Compensation Committee. He has extensive leadership experience from roles at Stryker Corporation and board memberships at other companies. | |
Lynne N. Ward Board | Independent Director | Director of the National Association of Corporate Directors (Utah Chapter) | Lynne N. Ward has served as an Independent Director at Merit Medical Systems, Inc. since August 2019. Previously, she was the Executive Director of my529, where she drove asset growth from $950 million to $14 billion. | |
Michael R. McDonnell Board | Independent Director | Michael R. McDonnell is a seasoned financial leader with over 35 years of experience, currently serving as an Independent Director at MMSI since May 2022. He has previously held CFO roles at companies including Biogen Inc, IQVIA Holdings Inc, Intelsat, and others. | ||
Silvia M. Perez Board | Independent Director | President and General Manager of Commercial Branding and Transportation, 3M Company | Silvia M. Perez has over 25 years of healthcare experience and has been an Independent Director at MMSI since May 2024. Previously, she held significant leadership roles at 3M Company, including serving as President and General Manager of Commercial Branding and Transportation since 2023. | |
Stephen C. Evans Board | Independent Director | Founder, Chairman, and CEO of Flag Bridge Global Solutions, LLC; Director on the Board of Alarm.com Holdings, Inc. | Stephen C. Evans has served as an Independent Director at MMSI since June 2021, with his term set to expire in 2027. He is a retired Rear Admiral with extensive leadership experience in the U.S. Navy and has also served as the Founder, Chairman, and CEO of Flag Bridge Global Solutions, LLC. | |
Thomas J. Gunderson Board | Independent Director | Board of Directors, TransMedics Group, Inc. (since 2019); Minneapolis Heart Institute Foundation (Director since 2011, Chair from 2024 to present); Executive in Residence, University of Minnesota’s Medical Industry Leadership Institute (since 2016) | Thomas J. Gunderson has served as an Independent Director at MMSI since May 2017 and is the Chair of the Finance Committee as well as a member of the Audit Committee. He brings over 30 years of experience in the medical device industry from previous roles at Piper Jaffray and American Medical Systems. | |
Joseph C. Wright | Joseph C. Wright served as President at MMSI from May 2024 to January 2025 and previously held the role of Chief Commercial Officer from October 2022, as well as Vice President, International from 2005 to 2015, significantly contributing to the company’s global operations. |
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Considering the delay in securing TPT reimbursement for Rhapsody CIE due to a filing misunderstanding, what corrective measures are you implementing to prevent similar issues in the future and ensure a timely submission by the September 1 deadline?
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With gross margin improvements partially attributed to lower-than-anticipated tariff impacts and a remaining headwind that ranges from approximately $7M to $26.3M, how do you plan to mitigate the volatility in tariff expenses going forward?
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Given the 6% sales decline in China against modest growth expectations, can you elaborate on the specific macroeconomic challenges currently impacting this market and the strategies in place to reverse this trend?
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Following the full conversion of BioLife’s U.S. distributor network to a direct sales model, what quantitative targets and qualitative metrics will you use to assess its success in driving both domestic and potential international revenue growth?
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With operating expenses rising due to increased SG&A and R&D costs, yet margins showing improvement, what is your plan to sustain this margin expansion without compromising future investment in growth initiatives?
Research analysts who have asked questions during MERIT MEDICAL SYSTEMS earnings calls.
David Rescott
Baird
4 questions for MMSI
James Sidoti
Sidoti & Company
4 questions for MMSI
Jason Bednar
Piper Sandler Companies
4 questions for MMSI
Jayson Bedford
Raymond James
4 questions for MMSI
Michael Petusky
Barrington Research
4 questions for MMSI
Steven Lichtman
Oppenheimer & Co. Inc.
4 questions for MMSI
John Young
Canaccord Genuity - Global Capital Markets
3 questions for MMSI
Michael Matson
Needham & Company
3 questions for MMSI
Craig Bijou
Bank of America Securities
2 questions for MMSI
Gursimran Kaur
Wells Fargo & Company
2 questions for MMSI
Robert Marcus
JPMorgan Chase & Co.
2 questions for MMSI
Lawrence Biegelsen
Wells Fargo
1 question for MMSI
Mike Matson
Needham & Company, LLC
1 question for MMSI
Competitors mentioned in the company's latest 10K filing.
Company | Description |
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This competitor is identified as one of the primary competitors in the peripheral intervention market, alongside others, and operates in the global medical technology marketplace characterized by rapid technological advancement and customer demands for price reductions. | |
Cook Medical Incorporated | This competitor is mentioned as a primary competitor in both the peripheral intervention and cardiac intervention markets, and also competes in the oncology and endoscopy markets. It is noted for its presence in specific product lines and geographies. |
This competitor is highlighted as a primary competitor in the peripheral intervention, cardiac intervention, and spine markets. It is one of the larger companies with extensive resources in the medical device industry. | |
This competitor is listed as a primary competitor in the peripheral intervention, cardiac intervention, and endoscopy markets. It is part of the competitive landscape in the global medical technology marketplace. | |
This competitor is identified as a primary competitor in the peripheral intervention, cardiac intervention, and oncology markets. It is noted for its involvement in various product lines. | |
This competitor is mentioned as a primary competitor in the cardiac intervention market, competing in the global medical technology marketplace. | |
Terumo Corporation | This competitor is listed as a primary competitor in the cardiac intervention market, operating in the highly competitive medical device industry. |
This competitor is identified as a primary competitor in the cardiac intervention market, contributing to the competitive dynamics of the industry. | |
This competitor is mentioned as a primary competitor in the spine market, competing in the global medical technology marketplace. | |
This competitor is listed as a primary competitor in the spine market, operating as one of the larger companies in the medical device industry. | |
This competitor is identified as a primary competitor in the oncology market, contributing to the competitive landscape in this segment. | |
Endomagnetics Ltd. | This competitor is mentioned as a primary competitor in the oncology market, operating in specific product lines. |
Argon Medical Devices, Inc. | This competitor is listed as a primary competitor in the oncology market, contributing to the competitive dynamics in this segment. |
Getinge AB | This competitor is identified as a primary competitor in the endoscopy market, operating in the global medical technology marketplace. |
Olympus Corporation | This competitor is mentioned as a primary competitor in the endoscopy market, contributing to the competitive landscape in this segment. |
Notable M&A activity and strategic investments in the past 3 years.
Company | Year | Details |
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Biolife Delaware, L.L.C. | 2025 | Merit Medical acquired Biolife through a merger for $120 million in cash plus $6.3 million in adjustments, making it a wholly owned subsidiary that expands its portfolio of patented hemostatic devices (StatSeal and WoundSeal) in a $350 million global market opportunity. |
EndoGastric Solutions, Inc. | 2024 | Merit Medical acquired EndoGastric Solutions for approximately $105 million, financing the deal via long‐term debt and obtaining the EsophyX® Z+ device to strengthen its gastrointestinal product offerings in a $2 billion market, with integration agreements and updated revenue guidance. |
Cook Medical's Lead Management Portfolio | 2024 | Merit Medical acquired the Lead Management Portfolio for about $210 million through cash and credit facility borrowings, enhancing its electrophysiology and cardiac rhythm management business with added differentiated products and transition services over a two‐year period. |
Scholten Surgical Instruments, Inc. (SSI) | 2024 | Merit Medical acquired SSI’s assets for an upfront $3 million plus deferred payments totaling $3 million, obtaining the Bioptome, Novatome, and Sensatome devices, with the payments recorded as a developed technology intangible asset amortized over eight years. |
AngioDynamics, Inc. | 2023 | Merit Medical acquired a portfolio including dialysis catheter products and the BioSentry® Biopsy Tract Sealant System for $100 million, financed with debt and allocated among developed technology, trademarks, and goodwill to bolster its dialysis and biopsy market presence. |
Bluegrass Vascular Technologies, Inc. | 2023 | Merit Medical acquired Bluegrass’s Surfacer® Inside-Out® Access Catheter System for $32.7 million (plus inclusion of a $245,000 equity investment), with assets allocated to inventories, developed technology, trademarks, and goodwill—further strengthening its cardiovascular segment. |
Restore Endosystems, LLC | 2022 | Merit Medical acquired Restore Endosystems’ Bifurcated Stent System by paying $3 million upfront with additional milestone-based payments, accounting the transaction as an asset purchase with in-process R&D expense to augment its cardiovascular offerings. |
Fluidx Medical Technology, Inc. | 2022 | Merit Medical acquired shares in Fluidx Medical Technology with a $1.4 million investment (in addition to a prior $4.7 million investment), resulting in approximately 17% ownership and recorded as an equity investment due to the lack of significant influence over operations. |
Recent press releases and 8-K filings for MMSI.
- Merit Medical reported strong financial performance for Q2 2025, with revenue of $382.5 million, up 13.2% compared to the prior year period, and non-GAAP EPS of $1.01, up 9.8%.
- The company generated $89.1 million in free cash flow over the first six months of 2025, an 8.1% increase year-over-year.
- Merit Medical updated its full-year 2025 guidance, increasing projected net sales to $1.495 - $1.507 billion and non-GAAP earnings per share to $3.52 - $3.72.
- Martha Aronson has been named the new President and Chief Executive Officer, effective October 3, 2025.
- Merit Medical Systems, Inc. (MMSI) announced the appointment of Martha Aronson as its new President and Chief Executive Officer, effective October 3, 2025.
- Fred P. Lampropoulos will transition from his current role as Chairman, President, and CEO to continue serving solely as Chairman of the Board after October 3, 2025.
- Ms. Aronson's compensation package includes an annual base salary of $1,000,000, a $250,000 signing bonus, and an initial equity award with a target grant date fair value of $5,500,000.
- The company also announced preliminary unaudited revenue for the quarter ended June 30, 2025, in the range of approximately $380 million to $384 million. This represents a projected increase of 12% to 14% compared to the prior year period.
- Merit Medical Systems, Inc. has appointed Martha Aronson as its new President and Chief Executive Officer, effective October 3, 2025.
- Current President and CEO Fred P. Lampropoulos will continue to serve as Chairman of the Board upon Ms. Aronson's appointment.
- The company announced preliminary unaudited revenue for the quarter ended June 30, 2025, in the range of $380 million to $384 million.
- This preliminary revenue represents a projected increase of 12% to 14% compared to the revenue reported for the quarter ended June 30, 2024, with preliminary constant currency revenue increasing 11% to 13%.