Merit Medical Systems (MMSI) Bank of America Global Healthcare Conference 2026 summary

Leadership transition and organizational changes

• Transitioned from founder-led to founder-inspired, focusing on scaling beyond $1.5B revenue by enhancing people and processes.

• Established eight cross-functional platform teams, each acting as a mini business with ownership over pipeline, go-to-market, international, and M&A opportunities.

• Added resources for in-house reimbursement and global enterprise excellence to strengthen infrastructure.

• Undergoing a robust strategic planning process, with current CGI (Continued Growth Initiatives) goals set through end of 2026.

• Tracking well toward CGI goals, with more strategic updates expected late this year or early next.

Segment reporting and business framing

• Shifted external reporting to align with internal management, now segmenting by Foundational and Therapeutic platforms.

• Eight platforms: two foundational (Access, Procedural Solutions), four therapeutic (Oncology, Endoscopy, Renal Therapies, Cardiac Therapies), and two mixed (OEM, Vascular Intervention).

• Foundational products are enabling devices with a 6% CAGR over three years, used in a wide range of procedures.

• Therapeutic products are higher-priced, more complex, and core to procedures, with recent launches and acquisitions driving growth.

Growth drivers and margin profile

• Foundational segment growth tied to broad utilization in procedures like electrophysiology, TAVR, and biopsies.

• Therapeutic segment growth driven by innovation (e.g., WRAPSODY, C2 CryoBalloon, EsophyX, Resilience stent, OneMark) and acquisitions.

• Therapeutic products have gross margins above corporate average; foundational just below, but the gap is small.

• Normalized Q1 growth: foundational at 5.5%, therapeutic at 12%.