Micrus to Sell Assets to Merit Medical

Medical device maker Micrus Endovascular Corp. said Monday it plans to sell certain assets to Merit Medical Systems Inc. for $3 million. Micrus said it entered into a nonbinding agreement to sell cardiac and peripheral catheter technology and inventory to Merit, which makes disposable devices used in cardiology and radiology. Micrus said it would receive an initial $1.5 million payment and another $1.5 million after the assets are transferred. The deal is expected to close at the end of the year. Shares of Micrus were trading at $19, down 1.1 percent, early Monday. Shares of Merit were trading at $12, down 2 percent. SOURCE: CNN