Global medical device manufacturer plans to create as many as 1,010 jobs over the next 15 years
Merit Medical will undertake a significant expansion of its headquarters in South Jordan in Utah (US), Plastics Today has reported. The medical device manufacturer committed to adding up to 1,010 jobs, US$71m in state revenue and an estimated $505m in capital investment over the next 15 years.
The company develops and manufactures products for use in cardiac, intervention, peripheral intervention, interventional oncology and spine, cardiovascular, and critical care and endoscopy procedures. Manufacturing and R&D facilities are located throughout the United States, in Ireland, the Netherlands and Mexico.
At its headquarters, located near, Salt Lake City, Merit offers injection and insert moulding and cleanroom assembly and production, among other services.
Custom labelling and packaging is available, and PTFE and hydrophilic coatings are applied to medical device tubing and wires to customer specifications at the company’s “coating headquarters” in the Netherlands. Other tube and wire processing services include laser cutting, welding, flattening, grinding and coiling.
The news follows the recent acquisition of Cianna Medical Inc. in a deal in which Cianna Medical has become a wholly-owned subsidiary of Merit.
Headquartered in Aliso Viejo, California, Cianna develops wire-free breast localisation and has been focused on breast conservation for 11 years.
Cianna's research, development and commercialisation teams developed the first non-radioactive, wire-free breast localisation system and the world’s only technology that utilises RADAR in human tissue.
The purchase consideration was an upfront payment of $135m in in cash with potential earn-out payments of an additional $15m for achievement of supply chain and scalability metrics, and up to an additional $50m for achievement of sales milestones.