Merit Medical Reports Record Revenues for the Quarter and Year Ended December 31, 2012 and Gives Sales and Earnings Guidance for

Merit Medical Reports Record Revenues for the Quarter and Year Ended December
31, 2012 and Gives Sales and Earnings Guidance for 2013

Revenues Up 12% for the Quarter and 10% for the Year

SOUTH JORDAN, Utah, Feb. 21, 2013 (GLOBE NEWSWIRE) -- Merit Medical Systems,
Inc. (Nasdaq:MMSI), a leading manufacturer and marketer of proprietary
disposable devices used primarily in cardiology, radiology and endoscopy,
today announced record revenues of $102.2 million for the quarter ended
December 31, 2012, an increase of 12% over revenues of $91.1 million for the
quarter ended December 31, 2011. Revenues for the year ended December 31, 2012
were a record $394.3 million, an increase of 10% over revenues of $359.4
million for the year ended December 31, 2011. Revenues from Merit's core
business grew 10% and 9% for the quarter and year ended December 31, 2012,
respectively, compared to the corresponding periods of 2011. Revenues related
to Merit's recent acquisition of Thomas Medical Products Inc. ("Thomas
Medical") from a division of GE Healthcare were $1.9 million for the last
twelve days of December 2012.

Merit's non-GAAP net income for the quarter ended December 31, 2012 was $6.2
million, or $0.15 per share, compared to $7.4 million, or $0.18 per share, for
the quarter ended December 31, 2011. Merit's non-GAAP net income for the year
ended December 31, 2012 was $30.8 million, or $0.72 per share, compared to
$30.9 million, or $0.78 per share, for the year ended December 31, 2011.

GAAP net income for the quarter ended December 31, 2012 was $641,000, or $0.01
per share, compared to $5.0 million, or $0.12 per share, for the fourth
quarter of 2011. GAAP net income for the year ended December 31, 2012 was
$19.7 million, or $0.46 per share, compared to $23.0 million, or $0.58 per
share, for the year ended December 31, 2011. The decrease in GAAP net income
for the quarter and year ended December 31, 2012 was primarily due to $2.2
million, net of tax, for non-recurring costs related to the acquisition of
Thomas Medical and $1.5 million for a capital loss related to an investment in
a privately-held company.

Gross profits for the fourth quarter of 2012 were 44.5% of sales, compared to
46.3% of sales for the fourth quarter of 2011. Gross profits improved to 46.2%
of sales for the year ended December 31, 2012, compared to 46.0% of sales for
the year ended December 31, 2011. Merit's gross margins would have been 45.3%
and 46.4% of sales for the three- and twelve-month periods ended December 31,
2012, respectively, excluding the non-recurring Thomas Medical acquired
inventory mark-up costs of $831,000 for both the quarter and year ended
December 31, 2012. The decrease in gross margins for the fourth quarter of
2012, when compared to the corresponding period of 2011, was primarily the
result of higher standard costs resulting from lower production volumes for
the fourth quarter of 2012.

"The fourth quarter of 2012 was a very busy quarter for Merit as we conducted
due diligence, acquired Thomas Medical and initiated the transition process,"
said Fred P. Lampropoulos, Merit's Chairman and Chief Executive Officer.
"Additionally, we prepared for the implementation of the new medical device
tax."

"All in all we had a very good sales year while we invested in a number of new
products that we plan to introduce throughout the year," Lampropoulos
continued. "The basixTOUCH™, the most advanced inflation device Merit has ever
produced, is scheduled to be available in the early second quarter of 2013
along with the PHD™ Hemostasis Valve. The TIO™, ONE Snare™ and peritoneal
dialysis catheters have all been released in the past few weeks."

"We have also invested in new business segments over the past year,"
Lampropoulos said. "Recently we initiated sales of procedure packs which are
produced in our Galway, Ireland facility. We also plan to complete our
hypotube and advanced devices unit in Ireland and begin processing product in
early April."

"Despite the challenges of the device industry, Merit has added a stellar line
of new products and acquired technology and capacity to take advantage of the
opportunities that the disruptions and turmoil of the industry have
presented," Lampropoulos added.

For the quarter ended December 31, 2012, compared to the quarter ended
December 31, 2011, Endotek sales rose 32%; catheter sales increased 19%;
stand-alone device sales were up 11%; custom kit and tray sales increased 9%;
embolotherapy device sales grew 6%; and inflation device sales rose 1%. For
the year ended December 31, 2012, compared to the year ended December 31,
2011, Endotek sales rose 31%; stand-alone device sales increased 12%; catheter
sales grew 10%; embolotherapy device sales rose 9%; custom kit and tray sales
were up 3%; and inflation device sales grew 2%. Excluding decreased sales to
an OEM customer, inflation device sales were up 6% for the year ended December
31, 2012.

Selling, general and administrative expenses were 32.7% and 31.0% of Merit's
sales for the quarter and year ended December 31, 2012, respectively, compared
with 30.8% and 29.1% of Merit's sales for the comparable periods of 2011,
respectively. SG&A expenses would have been 30.1% and 30.3% of sales for the
quarter and year ended December 31, 2012, respectively, if not for $2.7
million of non-recurring transaction costs attributable to the Thomas Medical
acquisition for both the quarter and year ended December 31, 2012. Excluding
these non-recurring expenses, the increase in SG&A expenses for the year ended
December 31, 2012 was primarily related to the hiring of additional sales and
marketing representatives, both domestically and internationally, to expand
Merit's sales distribution efforts and pursue increased market share for new
and existing products.

Research and development costs were 7.5% and 7.0% of sales for the quarter and
year ended December 31, 2012, respectively, compared to 6.7% and 6.1% of sales
for the corresponding periods of 2011, respectively. The increase was
primarily due to headcount additions for Merit's research and development
group to support new products and personnel increases in Merit's regulatory
department to support product registrations in foreign countries as Merit
expands its international sales distribution. In addition, acquired in-process
research and development costs were 0.6% and 1.6% of sales for the year ended
December 31, 2012 and 2011, respectively. During the year ended December 31,
2012, Merit spent approximately $2.5 million in acquired in-process research
and development to purchase five new technologies.

Other expense for the quarter and year ended December 31, 2012 was
approximately $2.5 million and $2.0 million, respectively, compared with other
income of approximately $150,000 and other expenses of approximately $315,000,
for the corresponding periods of 2011, respectively. The increase in other
expense for the quarter and year ended December 31, 2012 primarily related to
a loss of approximately $2.4 million of an investment in a privately-held
company accounted for at cost. A realized gain on marketable securities of
approximately $745,000 partially offset the investment loss for the year ended
December 31, 2012.

Merit's effective income tax rates for the quarter and year ended December 31,
2012 were 65.3% and 28.6%, respectively, compared to 14.0% and 29.9% for the
comparable periods of 2011, respectively. Absent the recognition of a deferred
income tax valuation allowance of approximately $631,000 related to certain
capital loss carry forwards, Merit's effective tax rates would have been 31.2%
and 26.3% for the quarter and year ended December 31, 2012.

The increase in the effective income tax rate for the fourth quarter of 2012,
when compared to the same period of 2011, was primarily the result of a higher
mix of U.S. income compared to Merit's foreign income, which is primarily due
to Merit's Irish operations being taxed at a lower income tax rate than its
U.S. operations.The decrease in the effective income tax rate for the year
ended December 31, 2012, when compared to the corresponding period of 2011,
was the result of a higher mix of foreign income, which is primarily due to
Merit's Irish operations being taxed at a lower rate than its U.S.
operations.

Merit generated $46.9 million in cash from operations for the year ended
December 31, 2012, compared to $34.0 million for the year ended December 31,
2011.

2013 GUIDANCE

Based upon information currently available to Merit's management, Merit
estimates that for the year ending December 31, 2013, absent extraordinary
transactions, Merit's revenues will be in the range of $455-$465 million, an
increase of approximately 15-18%, compared to revenues of $394.3 million for
the year ended December 31, 2012. Also, based on information currently
available to Merit's management, Merit estimates that, absent non-recurring
transactions, Merit's GAAP earnings per share for 2013 will be in the range of
$0.40-$0.46, compared to GAAP earnings per share of $0.46 for the year ended
December 31, 2012, and non-GAAP earnings per share of $0.61-$0.67, excluding
the acquired in-process research and development and the amortization of
intangibles, net of tax.

CONFERENCE CALL

Merit invites all interested parties to participate in its fourth quarter and
year-end conference call today, February 21^st, 2013, at 5:00 p.m. Eastern
(4:00 p.m. Central, 3:00 p.m. Mountain, and 2:00 p.m. Pacific). The domestic
phone number is (877) 941-0843, and the international number is (480)
629-9866. A live webcast as well as a rebroadcast can be accessed through the
Investors page at www.merit.com or through the webcasts tab at
www.fulldisclosure.com.

                                                            
BALANCE SHEET                                                
(Unaudited in thousands)                                     
                                                December 31, December 31,
                                                2012         2011
ASSETS                                                       
Current Assets                                               
Cash and cash equivalents                        $9,719    $10,128
Trade receivables, net                           53,402     40,550
Employee receivables                             169        154
Other receivables                                2,672      1,750
Inventories                                      84,599     69,911
Prepaid expenses                                 4,133      3,775
Prepaid income taxes                             1,250      883
Deferred income tax assets                       4,976      3,704
Income tax refunds receivable                    1,076      2,797
Total Current Assets                             161,996    133,652
                                                            
Property and equipment, net                      234,803    179,140
Other intangibles, net                           118,131    56,669
Goodwill                                         175,108    61,144
Deferred income tax assets                       4,237      5,366
Marketable Securities                                        2,798
Other assets                                     11,034     8,248
Total Assets                                     $705,309  $447,017
                                                            
LIABILITIES AND STOCKHOLDERS' EQUITY                         
Current Liabilities                                          
Trade payables                                   34,637     22,727
Accrued expenses                                 28,349     20,197
Current portion of long-term debt                10,000     
Advances from employees                          551        225
Income taxes payable                             547        646
Total Current Liabilities                        74,084     43,795
                                                            
                                                            
Deferred income tax liabilities                  2,373      2,112
Liabilities related to unrecognized tax benefits 1,858      3,489
Deferred compensation payable                    5,956      4,585
Deferred credits                                 2,980      1,984
Long-term debt                                   227,566    30,737
Other long-term obligation                       8,915      3,226
Total Liabilities                                323,732    89,928
                                                            
Stockholders' Equity                                         
Common stock                                     172,341    166,231
Retained earnings                                210,418    190,708
Accumulated other comprehensive income (loss)    (1,182)     150
Total stockholders' equity                       381,577    357,089
Total Liabilities and Stockholders' Equity       $705,309  $447,017
                                                            

                                                               
INCOME STATEMENT                                                
(Unaudited, in thousands except                                 
per share amounts)
                               Three Months Ended     Twelve Months Ended
                               December 31,           December 31,
                               2012        2011       2012        2011
                                                               
SALES                           $102,231 $91,092 $394,288 $359,449
                                                               
COST OF SALES                   56,768    48,947   212,296   193,981
                                                               
GROSS PROFIT                    45,463    42,145   181,992   165,468
                                                               
OPERATING EXPENSES                                              
Selling, general and            33,468    28,028   122,106   104,502
administrative
Research and development        7,665     6,091    27,795    21,938
Acquired in-process research               2,400    2,450     5,838
and development
Total                           41,133    36,519   152,351   132,278
                                                               
INCOME FROM OPERATIONS          4,330     5,626    29,641    33,190
                                                               
OTHER INCOME (EXPENSE)                                          
Interest income                 50        77       226       129
Interest expense                (252)      (34)      (604)      (789)
Other income (expense)          (2,278)    107      (1,645)    345
Total other income (expense) -  (2,480)    150      (2,023)    (315)
net
                                                               
INCOME BEFORE INCOME TAX        1,850     5,776    27,618    32,875
EXPENSE
                                                               
INCOME TAX EXPENSE              1,209     806      7,908     9,831
                                                               
NET INCOME                      $641     $4,970  $19,710  $23,044
                                                               
EARNINGS PER SHARE-                                             
Basic                           $0.02    $0.12   $0.47    $0.59
                                                               
Diluted                         $0.01    $0.12   $0.46    $0.58
                                                               
AVERAGE COMMON SHARES-                                          
Basic                           42,442      41,949     42,176      39,086
                                                               
Diluted                         42,830      42,410     42,610      39,733
                                                               

Although Merit's financial statements are prepared in accordance with
accounting principles which are generally accepted in the United States of
America ("GAAP"), Merit's management believes that certain non-GAAP financial
measures provide investors with useful information regarding the underlying
business trends and performance of Merit's ongoing operations and can be
useful for period-over-period comparisons of such operations. The following
table sets forth supplemental financial data and corresponding reconciliations
to GAAP financial statements for the three- and twelve-month periods ended
December 31, 2012 and 2011. Readers should consider these non-GAAP measures
in addition to, not as a substitute for, financial reporting measures prepared
in accordance with GAAP. These non-GAAP financial measures exclude some, but
not all, items that affect Merit's net income. Additionally, these
calculations may not be comparable with similarly titled measures of other
companies.

                                                                
                                    Three Months Ended  Twelve Months Ended
                                    December 31,        December 31,
                                    2012      2011      2012       2011
Non-GAAP ADJUSTMENTS                                             
GAAP net income                      $641   $4,970 $19,710 $23,044
                                                                
Acquisition costs                    2,492            2,559    86
Severance                            242              494      
Fair value write-up of acquired      831     80      831      724
inventory sold (a)
Long-term asset impairment charges   116     44      143      103
(b)
Acquired in-process research and              2,400   2,450    5,838
development
Amortization of intangible assets                                
Cost of sales                        876     670     4,072    2,588
SG&A expenses                        943     804     3,441    3,389
Loss on capital investment           2,368            2,368    
FV adjustment to contingent          110              480      
considerations (c)
Income tax effect of reconciling     (3,032)  (1,519)  (6,398)   (4,837)
items (d)
Tax effect on capital loss (e)       631              631      
                                                                
Non-GAAP net income                  $6,218 $7,449 $30,781 $30,935
                                                                
Non-GAAP net income per share        $0.15  $0.18  $0.72   $0.78
                                                                
Diluted shares used to compute       42,830  42,410  42,610   39,733
Non-GAAP net income per share
                                                                

Merit's non-GAAP income, after giving effect to the adjustments referenced in
the preceding table, does not reflect stock-based compensation expense of
approximately $463,000 and approximately $562,000 for the three months ended
December 31, 2012 and 2011, respectively, and stock-based compensation of
approximately $1.9 million and approximately $1.6 million for the year ended
December 31, 2012 and 2011, respectively.

(a) Increase in cost of goods sold related to the mark-up of finished goods
associated with Merit's acquisition of Thomas Medical
(b) Amounts represent abandoned patents
(c) Represents changes in the fair value of contingent consideration
liabilities for recent acquisitions
(d) Reflects an estimated annual income tax rate of 38% on a non-GAAP basis
(e) Reflects the deferred income tax valuation allowance related to certain
capital loss carry forwards

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 200 individuals.
Merit employs approximately 2,750 people worldwide with facilities in Salt
Lake City and South Jordan, Utah; Angleton, Texas; Richmond, Virginia;
Malvern, Pennsylvania; Maastricht and Venlo, The Netherlands; Paris, France;
Galway, Ireland; Beijing, China; Copenhagen, Denmark; and Rockland,
Massachusetts.

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

Statements contained in this release which are not purely historical,
including, without limitation, statements regarding Merit's forecasted
revenues, net income, financial results or anticipated acquisitions, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995 and are subject to risks and uncertainties such
as those described in Merit's Annual Report on Form 10-K for the year ended
December 31, 2011. Such risks and uncertainties include risks relating to
Merit's potential inability to successfully manage growth through
acquisitions, including the inability to commercialize technology acquired
through recent, proposed or future transactions;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 of Corporate Communications
         (801) 208-4167
         e-mail: awright@merit.com

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