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Merit Medical Systems completed the acquisition of Cianna Medical, based in Aliso Viejo, California. The company based in South Jordan, Tennessee, has made an upfront payment of $ 135 million, along with potential additional payments of up to $ 15 million for supply chain measures and scalability, and up to an additional $ 50 million for the completion of sales milestones.
Merit said Cianna was specialized in wireless bad localization and that she was focused on bad conservation for 11 years. Its research, development and commercialization teams have developed a wireless, non-radioactive bad location system and technology that uses RADAR in human tissue. Its SCOUT and SAVI Brachy technologies are FDA approved and address unmet needs for radiation therapy, tumor localization and surgical orientation.
"We are delighted that Cianna Medical is joining the Merit family," Fred P. Lampropoulos, Merit's President and CEO, said in a statement. "We look forward to continuing Cianna's momentum, international expansion and partnership with Cianna Medical's sales and marketing team."
Revenue from the SCOUT device has grown from $ 1 million in its 2015 debut to projected revenue of $ 29 million in 2018. The current estimated market share is approximately 5%, with income currently exists in the United States.
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