Buyout firms GTCR, CD&R circle Merit Medical -sources

Maravai Lifesciences Holdings

08/04/2022 20:28

By Chibuike Oguh
    April 8 (Reuters) - GTCR LLC and Clayton, Dubilier & Rice
(CD&R) are among private equity firms that have expressed
interest in acquiring U.S. medical device manufacturer Merit
Medical Systems Inc  MMSI.O , according to people familiar with
the matter.
   GTCR has informed Merit Medical it would be willing to pay
$72 to $75 per share, one of the sources said. Merit Medical
shares were trading at around $61 before Reuters reported on
March 9 that the company was exploring a sale.  urn:newsml:reuters.com:*:nL3N2VC3MQ
   Other private equity firms could also express interest in
Merit Medical and there is no certainty that any deal will be
reached, the sources said. Should there be a deal, it could come
as early as May, the sources added, asking not to be identified
because the matter is confidential.
    Spokespeople for GTCR and CD&R declined to comment. A Merit
Medical spokesperson did not immediately respond to requests for
comment.
    Merit Medical manufactures and sells devices and instruments
used in cardiology, radiology, oncology, critical care and
endoscopy.
    The South Jordan, Utah-based company previously attracted
the interest of activist hedge fund Starboard Value LP, which
clinched an agreement in 2020 to shake up Merit's board of
directors. 
    Both GTCR and CD&R are prolific investors in health and
medical device businesses and have been seeking to capitalize on
a wave of consolidation sweeping the industry.
    One of GTCR's portfolio companies, vaccine reagent provider
Maravai LifeSciences Holdings Inc  MRVI.O , turned down an $11
billion acquisition offer from laboratory supplies vendor
Sartorius AG  SATG.DE  in February, sources told Reuters at the
time. It remains possible that the companies will negotiate a
deal.  urn:newsml:reuters.com:*:nL1N2V037I

 (Reporting by Chibuike Oguh in New York; Editing by Chizu
Nomiyama)
 ((Chibuike.Oguh@thomsonreuters.com; +332-999-6154; Reuters
Messaging: chibuike.oguh.thomsonreuters.com@reuters.net))