10:09 AM EDT, 07/01/2024 (MT Newswires) -- Merit Medical Systems ( MMSI ) said Monday it has signed an asset purchase deal with EndoGastric Solutions to buy EndoGastric's EsophyX Z+ device for about $105 million in cash.

The device is used in a minimally invasive procedure to treat people suffering from gastroesophageal reflux disease. The acquisition is expected to contribute revenue of $13 million to $15 million from the closing date through Dec. 31, according to Merit.

Merit said it now expects 2024 non-GAAP earnings of between $3.22 and $3.31 per share and net sales between $1.32 billion and $1.34 billion, compared with the previous guidance for $3.28 to $3.35 non-GAAP EPS and $1.31 billion to $1.33 billion net sales.

Analysts polled by Capital IQ expect $3.33 normalized EPS and $1.32 billion revenue.

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