Disposable products developer Merit Medical Systems has acquired medical device technology developer BrightWater Medical with an upfront payment of $35 million and possible earn-out payments of up to $15 million.
The transaction centers on ownership of BrightWater's ConvertX, a single device that has the potential to replace multiple devices used in interventional radiology procedures for the treatment of severe ureteral obstructions.
ConvertX is designed to convert from a nephroureteral catheter into a nephroureteral stent while inside the patient, removing the need for a secondary invasive procedure involving stent installation and potentially improving patient safety and lowering hospital costs, according to the companies.
