Merit Medical to Acquire C2 CryoBalloon Tech from Pentax

Merit Medical Systems began an asset purchase agreement with Pentax of America (a Pentax Medical subsidiary) to acquire C2 CryoBalloon and related technology.

Merit said the acquisition will strengthen its position in the gastroenterology market and offer more opportunities to treat patients suffering from chronic gastroesophageal reflux disease (GERD) and other gastrointestinal tissue disorders. The C2 CryoBalloon delivers controlled freezing treatments for targeted ablation and precise destruction of unwanted soft tissue.

Chronic GERD can result in esophageal damage, Barrett’s esophagus, and cancer. The C2 CryoBalloon treats Barrett’s esophagus and gastric antral vascular ectasia (GAVE) syndrome, a vascular disorder. It freezes and eliminates abnormal cells while maintaining the integrity of surrounding tissues.

“The proposed acquisition reflects Merit’s commitment to advancing minimally invasive solutions for gastrointestinal disorders,” said Martha G. Aronson, Merit’s president and CEO. “We’re excited to welcome new team members and expand our portfolio, empowering physicians to improve patient outcomes worldwide.”

Merit plans to integrate the C2 CryoBalloon into its endoscopy portfolio. Over the next few months, the company will transfer product manufacturing to its South Jordan, Utah facility. Merit expects some of the employees currently engaged in the business will join Merit to contribute their knowledge and expertise.

Details of Merit Medical’s acquisition of the C2 CryoBalloon

Merit proposed to acquire the assets from Pentax for $22 million, consisting of a $19 million cash payment at closing and potential contingent payments of up to $3 million upon meeting certain milestones.

The acquired assets are expected to contribute $1 million of revenue from a projected closing date of Nov. 1, 2025, through Dec. 31, 2025.

“C2 technology has been an exciting part of Pentax Medical’s journey since 2017. The C2 CryoBalloon holds promise across a range of therapeutic applications. We are pleased to announce that Merit will be the new home for C2, unlocking its potential,” said Dominique Vincent, president of Pentax Medical. “With its expanding footprint in upper gastrointestinal treatments and deep expertise in the field, Merit is ideally positioned to accelerate C2’s growth, making it available to even more patients and clinicians worldwide.”