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Merit Medical Completes Acquisition of Thomas Medical Products, a Unit of GE Healthcare



Merit Medical Completes Acquisition of Thomas Medical Products, a Unit of GE
Healthcare

SOUTH JORDAN, Utah, Dec. 20, 2012 (GLOBE NEWSWIRE) -- Merit Medical Systems,
Inc. ("Merit") (Nasdaq:MMSI), a leading manufacturer and marketer of
proprietary disposable devices used primarily in cardiology, radiology and
endoscopy, today announced that it has completed the acquisition of Thomas
Medical Products, Inc. ("Thomas Medical") from GE Healthcare in an all-cash
transaction valued at approximately $167 million, subject to customary
post-closing adjustments.

"The acquisition of Thomas Medical Products adds significant technology and
sales base to our cardiology business," said Fred P. Lampropoulos, Merit's
Chairman and Chief Executive Officer. "Additionally, Thomas Medical adds
substantial breadth to our existing OEM business which is approaching $100
million in annual revenues."

Thomas Medical will now operate as Merit Medical Systems, Inc., Malvern
Division.

Merit financed the full amount of the purchase price through the expansion of
Merit's existing credit facility to $275 million, which Wells Fargo Bank
provided in a single bank transaction. Merit expects the acquisition to be
immediately accretive to its net earnings on a non-GAAP basis, adjusted for
transaction costs, one-time purchase accounting directives and amortization of
intangibles. 

In connection with the transaction, Piper Jaffray & Co. served as financial
advisor to Merit and rendered a fairness opinion to Merit's board of
directors. Raymond James Financial, Inc. also rendered a fairness opinion to
Merit's board of directors. Parr Brown Gee & Loveless served as the legal
advisor to Merit. Moelis & Company LLC served as financial advisor and Paul
Hastings LLP served as legal advisor to GE Healthcare.

ABOUT MERIT

Founded in 1987, Merit Medical Systems, Inc. is engaged in the development,
manufacture and distribution of proprietary disposable medical devices used in
interventional and diagnostic procedures, particularly in cardiology,
radiology and endoscopy. Merit serves client hospitals worldwide with a
domestic and international sales force totaling approximately 165 individuals.
Merit employs approximately 2,800 people worldwide with facilities in Salt
Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia;
Maastricht and Venlo, The Netherlands; Paris, France; Galway, Ireland;
Beijing, China; Copenhagen, Denmark; Rockland, Massachusetts and Malvern,
Pennsylvania.

The Merit Medical Systems, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3282

This press release contains forward-looking statements regarding, among other
things, Merit's acquisition of Thomas Medical and Merit's financial position,
results of operations, product development and business strategy, as well as
estimates of Merit's future operating and financial performance and earnings
per share. Statements including words such as "believes," "expects,"
"anticipates," "intends," "estimates," "plans," "will," "may," "intend" or
similar expressions are forward-looking statements. Because these statements
reflect Merit's current views, expectations and beliefs concerning future
events, these forward-looking statements involve risks and
uncertainties. Readers should note that many factors could affect the proposed
acquisition, as well as future financial results, and could cause actual
results to vary materially from those expressed in forward-looking statements
set forth in this release. These factors include, but are not limited to, the
risk that Merit will not be successful in its efforts to integrate the
operations of Thomas Medical with its existing operations; the risk that Merit
may not achieve the financial and operating results it currently believes
Thomas Medical will generate in the future; the risk that Merit will be
unsuccessful in its efforts to develop, commercialize and market new products
acquired through the Thomas Medical acquisition (or products developed through
the use of intellectual property acquired through the transaction); and the
risk that Merit will be unable to obtain the regulatory approvals necessary to
pursue its intended business strategy. Other factors that may affect Merit's
future financial results and could cause actual results to vary materially
from those expressed in this release include product recalls and product
liability claims; expenditures relating to research, development, testing and
regulatory approval or clearance of Merit's products and risks that such
products may not be developed successfully or approved for commercial use;
greater governmental scrutiny and regulation of the medical device industry;
reforms to the 510(k) process administered by the U.S. Food and Drug
Administration; compliance with governmental regulations and administrative
procedures; potential restrictions on Merit's liquidity or its ability to
operate its business by its current debt agreements; possible infringement of
Merit's technology or the assertion that Merit's technology infringes the
rights of other parties; the potential of fines, penalties, or other adverse
consequences if Merit's employees or agents violate the U.S. Foreign Corrupt
Practices Act or other laws and regulations; laws targeting fraud and abuse in
the healthcare industry; potential for significant adverse changes in, or
failure to comply with, governing regulations; the effect of changes in tax
laws and regulations in the United States or other countries; increases in the
price of commodity components; negative changes in economic and industry
conditions in the United States and other countries; termination or
interruption of relationships with Merit's suppliers, or failure of such
suppliers to perform; fluctuations in Euro and GBP exchange rates; Merit's
need to generate sufficient cash flow to fund its debt obligations, capital
expenditures, and ongoing operations; concentration of Merit's revenues among
a few products and procedures; development of new products and technology that
could render Merit's existing products obsolete; market acceptance of new
products; volatility in the market price of Merit's common stock; modification
or limitation of governmental or private insurance reimbursement policies;
changes in health care markets related to health care reform initiatives;
failure to comply with applicable environmental laws; changes in key
personnel; work stoppage or transportation risks; uncertainties associated
with potential healthcare policy changes which may have a material adverse
effect on Merit; introduction of products in a timely fashion; price and
product competition; availability of labor and materials; cost increases;
fluctuations in and obsolescence of inventory; and other factors referred to
in Merit's Annual Report on Form 10-K for the year ended December 31, 2011 and
other materials filed with the Securities and Exchange Commission. All
subsequent forward-looking statements attributable to Merit or persons acting
on its behalf are expressly qualified in their entirety by these cautionary
statements. Actual results will differ, and may differ materially, from
anticipated results. Financial estimates are subject to change and are not
intended to be relied upon as predictions of future operating results, and
Merit assumes no obligation to update or disclose revisions to those
estimates.

CONTACT: Anne-Marie Wright,
         Vice President, Corporate Communications
         Phone: (801) 208-4167
         e-mail: awright@merit.com
         Fax: (801) 253-1688

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