Merit Medical Announces Agreement in Principle with Department of Justice

SOUTH JORDAN, Utah, July 15, 2020 (GLOBE NEWSWIRE) — Merit Medical Systems, Inc. (NASDAQ: MMSI), a leading manufacturer and marketer of proprietary disposable devices used in interventional, diagnostic and therapeutic procedures, particularly in cardiology, radiology, oncology, critical care and endoscopy, today announced that it has reached an agreement in principle with the Department of Justice (“DOJ”) to fully resolve the DOJ’s investigation of certain marketing and promotional practices, which has been previously disclosed. Merit currently expects to pay $18 million in connection with the resolution; however, Merit denies the allegations.

“Given the mounting costs and time demands associated with the investigation, we believe this resolution is in the best interests of the business. Merit will continue to focus on our core mission: to be the most customer-focused company in healthcare,” said Fred P. Lampropoulos, Merit’s Chairman and Chief Executive Officer.

Additional details regarding the settlement will be released after the settlement documents are finalized.

ABOUT MERIT