Disposable products developer Merit Medical Systems has acquired the assets of Vascular Insights, a Massachusetts-based developer of specialty infusion and occlusion catheter systems.
Vascular Insights has developed ClariVein IC and ClariVein OC, which have been used in more than 120,000 cases to treat superficial venous disease, particularly below the knee, and venous leg ulcers. ClariVein IC has U.S. Food and Drug Administration 510(k) clearance, while ClariVein OC has the CE Mark in Europe.
The products from Vascular Insights complement Merit's line of peripheral intervention offerings and also add to the company's ability to provide existing Merit products, such as micropuncture and vascular access products, according to the company.
Merit paid $40 million for the acquisition and will pay an additional $20 million if sales milestones are met.