Talking to media at a press meet, Mr. Joe Wright, President said “we are happy to share that the India Subsidiary office is being opened in Bangalore. 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. Physicians and hospitals have been asking as to why Merit Medical not investing in India. Our product quality worldwide has been highly respected at all times”.
“Over the next 5-10 years we have elaborate plans to invest in sales & marketing initiatives and set up basic infrastructure for product assembly and sterilization” Mr. Wright added.
“Merit Medicals enjoys a great reputation for its world class medical products across countries and we see India as a strategic place to be present today. Even though we have been selling our products through distributors here last 3-4years, we feel our presence is needed more now to be able to reach out to our direct target groups, the doctors and hospitals” said Mr. Ashwin Benegal, President; India & SAARC region. We would like that more and more Indian doctors know of our products and thus recommend the same”, he added.
“Bangalore is India’s IT hub with multinationals stationed here that have big R&D facilities. We look forward to working with them in the near future for our products, that’s one of the reasons for choosing to base our India office in Bangalore. Said Mr. Ashwin Benegal, President, India & SAARC countries.
About Merit Medical Systems
Founded in 1987, Merit Medical Systems, Inc. is a public listed company engaged in the development, manufacture and distribution of proprietary medical disposable medical devices used in interventional and diagnostic procedures, particularly in cardiology, radiology and endoscopy. Its primary products consist of inflation devices used in angioplasty and stent placement; diagnostic and therapeutic catheters used for various procedures in cardiology and radiology.
Headquartered in South Jordan, Utah, Merit employs approximately 2,900 people worldwide. Merit serves client hospitals with a domestic and international sales force totalling approximately 130 individuals as well as select distributors. These highly trained individuals and organizations market Merit's products both domestically and internationally by calling directly on physicians and clinicians who use the products in hospitals and clinics worldwide.
Recently, Merit Medical Systems, Inc. (NASDAQ: MMSI), announced record revenues of $115.2 million for the quarter ended September 30, 2013, an increase of 20% over revenues of $95.9 million for the third quarter of 2012. Revenues for the nine-month period ended September 30, 2013 were a record $329.0 million, compared with $292.1 million for the comparable nine-month period in 2012, an increase of 13%.
“Global" is a key word. Merit's sales in the U.S. last year accounted for 63 percent of its total sales, but that figure has been shrinking over the past few years as the international sales have grown as a result of significant investments in China, Brazil, India, Russia and other emerging markets” said Mr. Wright on a closing note.
