Sign in Subscribe
Pharmaceutical industry

Merit Medical Systems to Replace Rainbow Technologies in S&P SmallCap 600

Strategic Insights

— 1 min read

Merit Medical Systems Inc. will be replacing Rainbow Technologies Inc. in the S&P SmallCap 600 after the close of trading on Monday, March 15, 2004. This move follows the acquisition of Rainbow Technologies by SafeNet Inc., a transaction that is still subject to shareholder approval. Merit Medical Systems, headquartered in South Jordan, UT, specializes in making and marketing disposable proprietary medical products for cardiovascular disease diagnosis and treatment.

Key Takeaways:

  • Merit Medical Systems will replace Rainbow Technologies in the S&P SmallCap 600 after the close of trading on March 15, 2004.
  • The acquisition of Rainbow Technologies by SafeNet Inc. triggered the change, pending shareholder approval.
  • The combined company will not be added to an S&P index at this time, as the transaction is still in progress.
  • Merit Medical Systems is a leading provider of proprietary medical products for cardiovascular disease diagnosis and treatment.
  • The company is headquartered in South Jordan, UT, and will be classified under the Health Care Supplies sub-industry.
  • The change is part of Standard & Poor's ongoing process of monitoring and adjusting its indices to reflect market developments.
  • David Blitzer, Managing Director of Quantitative Services at Standard & Poor's, is available for comment.

Statistics:

  • The acquisition of Rainbow Technologies by SafeNet Inc. is anticipated to close on or about March 15, 2004.
  • The combined company will not be added to an S&P index at this time.
  • Merit Medical Systems is headquartered in South Jordan, UT.
  • The company will be classified under the Health Care Supplies sub-industry.
  • Standard & Poor's has 5000 employees located in 20 countries.
  • The company has played a leading role in providing investors with independent benchmarks for over 140 years.

Sources:

  • Mercantile & Industrial Consolidated Research, Inc
  • http://www.standardandpoors.com/
  • http://www.mcgraw-hill.com/

Read more