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news.Merit Medical Systems has entered into a non-binding term sheet with Micrus Endovascular to purchase certain cardiac and peripheral catheter platform assets and technology from the company for $3 million.
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The purchase will include the transfer of know-how, intellectual property, inventory and technology from Micrus to Merit.
John Kilcoyne, chairman and CEO of Micrus, said: “This divestiture allows us to realize the value of the non-core cardiac and peripheral assets we gained from Vascon, while we continue to grow our business and create long-term growth opportunity through our focus on the treatment of hemorrhagic and ischemic stroke.
“Merit is a leader in the cardiac and peripheral treatment field, and we are confident this technology will prove beneficial as we share a common goal to deliver products that offer clinical advantage based on innovative technologies.”