Merit Medical Systems (MMSI) Piper Sandler 36th Annual Healthcare Conference summary

Strategic initiatives and growth focus

• Continued Growth Initiatives (CGI) build on prior success, aligning compensation and focus across the organization.

• Emphasis on price, uptake, and SKU rationalization to drive growth.

• Dedicated verticals like Renal and Cardiac Therapies Groups created to optimize sales focus and leverage acquisitions.

• Omnichannel sales approach piloted in Europe and expanding in the U.S. for 2025.

• Flexibility to pivot investments and focus by geography in response to market opportunities.

Market trends and geographic performance

• U.S. and Europe show steady procedural growth, with market share gains outpacing the market.

• China faces headwinds from volume-based purchasing (VBP), but procedural volumes remain strong.

• OEM demand rebounded in the second half of the year, requiring manufacturing ramp-up.

• Competitive environment in China is intensifying with local manufacturers, but long-term outlook remains positive.

• Investment in China is being balanced with other regions to manage risk and opportunity.

Policy, tariffs, and operational agility

• Policy changes and tariffs are monitored, with the company prepared to pivot as needed.

• Maquiladora status in Mexico provides some protection and flexibility regarding tariffs.

• Three-year plan for continued growth remains the focus, with readiness to adjust as details emerge.