Merit Medical Systems Inc. of South Jordan has signed an agreement to acquire Cianna Medical Inc., headquartered in Aliso Viejo, California. The transaction has been approved by the boards of directors of both companies and now goes to the stockholders for approval. The deal will close in the fourth quarter, pending Hart-Scott-Rodino Antitrust Improvements Act approval.

The deal structure includes an upfront payment of $135 million with potential earn-out payments of an additional $15 million for achievement of supply chain and scalability metrics, and up to an additional $50 million for achievement of sales milestones, Merit said.

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