One of the world’s largest disposable medical manufacturers.
By Deepak Chitnis
WASHINGTON, DC: Merit Medical Systems, a medical technology group based in South Jordan, Utah, opened its first Indian office in Bangalore on Wednesday.
The company, which was founded in 1987, is one of the world’s largest disposable medical manufacturers. It reported revenues of over $330 million in 2013 and employs some 2,900 workers in its offices around the globe.
In a press release, MMS President Joe Wright explained that the reason for installing an office in India was to take advantage of the country’s booming healthcare industry, which has seen robust growth over the past several years.
“The key reason for our entry into the Indian market now with direct presence is due to the large need that has been generated for our products over the last 3-5 years,” he said.
Publically traded on the NASDAQ (ticker abbreviation MMSI), MMS is “a worldwide designer, developer, manufacturer and marketer of medical devices used in interventional and diagnostic procedures.” The company’s primary products are “inflation devices used in angioplasty and stent placement; diagnostic and therapeutic catheters used for various procedures in cardiology and radiology; diagnostic and hydrophilic products used to manage and monitor the administration of contrast media and other fluid solutions; thrombolytic catheters and fluid dispensing systems; and embolo-therapeutic products for the treatment of uterine fibroids, hyper-vascularized tumors, and arteriovenous malformations.”
The company’s locations include a manufacturing facility in Galway, Ireland, Venlo, Netherlands and near Paris, France, and a European headquarters in Maastricht, Netherlands. Additionally, there are offices in Copenhagen, Denmark, and Beijing. MMS also has domestic locations in Rockland, Massachusetts and Richmond, Virginia.
Its products reach clients in all the aforementioned countries as well as Austria, Belgium, Brazil, Finland, Germany, Italy, Luxembourg, Norway, Russia, Sweden, the UK, and what it describes as “other EMEA [European, Middle Eastern, and Asian] countries.”
To contact the author, email to deepakchitnis@americanbazaaronline.com