Merit Medical to Conduct Road Shows in June, Include New Products Update.Business Editors & Health/Medical Writers SOUTH JORDAN, Utah--(BW HealthWire)--June 11, 2002 Merit Medical Systems Inc. (Nasdaq:MMSI MMSI Maritime Mobile Service Identity MMSI Miniature Munitions/Store Interface MMSI Military Membership Status Identifier ) will be making presentations to institutional investors in California, Texas and various cities in the Midwest June 12-21. During those presentations, Merit's management team will be giving updates on the company's products -- both recently introduced, and those in the product pipeline which will be introduced this year. Merit already has introduced two products this year -- the One-Step(TM) Centesis Catheter for drainage, and the DugOut(TM) 1000ml waste collection device. The company noted that sales of these products are exceeding their forecasts to date and should provide meaningful contributions to Merit's revenues and earnings for 2002 and beyond. Merit's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Fred Lampropoulos, indicated that there were several new products to be introduced this year, including a new coronary control syringe control syringe n. A type of Luer syringe with thumb and finger rings attached to the proximal end of the barrel and to the tip of the plunger, allowing operation with one hand. Also called ring syringe. , the Inject10n, a 10cc syringe made specifically to be used with small diameter catheters. "To the best of our knowledge, Merit is the only company currently in the market with a smaller diameter barrel on its coronary control syringes. This feature enables clinicians to inject contrast media into 4- and 5-French catheters by hand at high speeds during an angiogram an·gi·o·gram n. An angiographic x-ray of blood vessels used in diagnosing pathological conditions of the cardiovascular system.//An x-ray of one or more blood vessels produced by angiography and used in diagnosing pathology in the cardiovascular diagnostic procedure," said Lampropoulos. The company expects the Inject10n to be introduced by the end of June. Other new products to be introduced this year are the Majestik(TM) Shielded Needle (safety needle) and two additional drainage catheters, the Resolve(TM) Non-Locking and Locking catheters. The Majestik needle is being produced in response to the Needle Stick Safety Act, which was passed into law in 2000, requiring that hospitals use safety needles to protect health care workers from accidental needle punctures. The company has performed market research tests on this device with good results and will be filing its 510-k in mid-June. While U.S. roll-out for the Majestik needle is expected following the routine 90-day timeline for 510-k's, Merit has already fulfilled its European CE Mark requirements and will be introducing the product to European customers some time in July. Merit believes this product is an important addition to its product offerings and will enhance sales and earnings going forward. In addition, it is a significant step forward in protecting the safety of health care workers. Lampropoulos said that the long-awaited Non-Locking and Locking Resolve drainage catheters will begin their market research tests within the next 30 days. These tests are expected to last about 30 days for the Non-Locking catheter and 90 days for the Locking Resolve catheter. The company already has the appropriate clearances to market these devices. The Resolve catheters will complete Merit's existing line of drainage products, which include drainage bags, tubing, and the Percustay(TM) catheter fixation bandage. The Resolve Locking catheter provides patent-pending, proprietary features that enhance ease of use for both clinicians and patients. Lampropoulos noted that the locking catheter solves a number of problems that clinicians have for both insertion and removal. In other news, Merit Medical said that on June 10 it had been placed on the preliminary list to be added to the Russell stock indexes. Final selection to the various Russell indexes Russell Indexes US equity index widely used by pension and mutual fund investors that are weighted by market capitalization and published by the Frank Russell Company of Tacoma, Washington. will be made July 1 and posted to the Russell.com Web site on July 9 by 5 p.m. PDT PDT abbr. Pacific Daylight Time PDT Pacific Daylight Time PDT n abbr (US) (= Pacific Daylight Time) → hora de verano del Pacífico PDT . About Merit: Founded in 1987, Merit Medical Systems is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. engaged in the development, manufacture and distribution of proprietary disposable medical products used in interventional and diagnostic procedures, particularly in cardiology cardiology Medical specialty dealing with heart diseases and disorders. It began with the 1749 publication by Jean Baptiste de Sénac of contemporary knowledge of the heart. Diagnostic methods improved in the 19th century, and in 1905 the electrocardiograph was invented. and radiology. The company serves client hospitals worldwide with a domestic and international sales force totaling approximately 70 individuals. Merit Medical employs approximately 1,050 individuals worldwide, with manufacturing facilities in South Jordan and Salt Lake City; Santa Clara Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.; Angleton, Texas
Angleton is the county seatGR6 of Brazoria County in the U.S. ; and Galway, Ireland. For more information about Merit Medical, visit www.merit.com. Statements contained in this release which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and are subject to risks and uncertainties such as those described in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2001. Such risks and uncertainties include introduction of products in a timely fashion, market acceptance of new products, cost increases, fluctuations in and obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. of inventory, price and product competition, availability of labor and materials labor and materials (time and materials) n. what some builders or repair people contract to provide and be paid for, rather than a fixed price or a percentage of the costs. , development of new products and techniques that render the company's products obsolete, delays in obtaining regulatory approvals, potential product recalls, foreign currency fluctuations, changes in health care markets related to health care reform initiatives and other factors referred to in the company's 10-K and other reports filed with the Securities and Exchange Commission. All subsequent forward-looking statements attributable to the company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Actual results may differ materially from anticipated results. |
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