Merit Medical makes and sells single-use disposable medical devices used in minimally invasive cardiovascular and endoscopic procedures. Merit's products are the ancillary tools physicians use to access the vascular system, treat blockages, manage fluids, and perform biopsies — not high-profile implants or capital equipment, but essential consumables used in virtually every procedure. Core customers are interventional cardiologists, interventional radiologists, and other proceduralists at hospitals and outpatient facilities. In the U.S., Merit sells through a direct sales force organized into focused clinical groups (Vascular, Cardiac, Renal, Oncology), each carrying a specialized portfolio. Internationally, Merit uses a mix of direct and distributor-based sales. The business operates through two segments: Cardiovascular (~90% of revenue), which includes Peripheral Intervention, Cardiac Intervention, Custom Procedural Solutions, and OEM manufacturing; and Endoscopy (~10% of revenue), which sells GI and pulmonary devices under the Merit Medical Endotek brand. Revenue is highly recurring, driven by procedure volumes and Merit's share of products used per procedure. Growth comes from tuck-in acquisitions that add products to existing sales bags, incremental product launches, and pricing discipline — Merit's gross margins have expanded materially in recent years. Merit's most significant recent product launch is WRAPSODY, a PMA-approved endoprosthesis for hemodialysis vascular access, where Merit is pursuing premium pricing and reimbursement approvals as near-term catalysts.