Merit Medical Systems has purchased the HeRO graft device and related assets from CryoLife.
The HeRO graft is a fully subcutaneous vascular access system that is intended for use in maintaining long-term vascular access for chronic haemodialysis patients who have exhausted peripheral venous access sites suitable for fistulas or grafts. The product has received 510(k) clearance from the US Food and Drug Administration, and has CE marking.
Merit purchased the HeRO graft assets for US$18.5 million and financed the deal under existing banking agreements.
“This is a product line we have had interest in for some time,” says Fred P Lampropoulos, Merit’s chairman and chief executive officer. “We believe the HeRO graft will help enhance our existing presence with vascular surgeons as well as interventional radiologists. We believe other Merit product lines, such as our peritoneal dialysis catheters, which are most often implanted by vascular surgeons, and our line of chronic dialysis catheters, will be improved as well.”
Canaccord Genuity provided financial advice to Merit in connection with this transaction.