Merit Medical, Medtronic Partner to Offer New FDA-Cleared Viaverte System for Back Pain
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Merit Medical Systems (MMSI) has announced an agreement with Medtronic (MDT) to offer the new, FDA-cleared Viaverte System. This system is a basivertebral nerve ablation treatment specifically designed for chronic vertebrogenic lower-back pain. The FDA clearance is a crucial regulatory approval, paving the way for the commercialization of this new medical device. This partnership with Medtronic, a significant player in the medical device industry, is a positive development for Merit Medical, as it could enhance its market penetration and drive future revenue growth in the pain management segment. Traders will be monitoring the commercial launch and initial sales performance of the Viaverte System.
At the time of this announcement, MMSI was trading at $68.13 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $4B. The 52-week trading range was $66.49 to $107.27. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.