The company Museatex was formed around 1990 by Ed Meitner and John Wright based in Calgary, Alberta, Canada. Over the years, the brand was assumed under A/D/S which eventually closed in 2001. There's still a web page for information on Museatex products here. Ed Meitner has moved on these days to EMM Labs since 1998 and given his work with SACD, his name has been associated with "bitstream" type technologies since (some more info/video).
By the end of the 1980's, 1-bit Philips "Bitstream" PDM DAC chips started to show up in the market with the Philips SAA 7321 chip as one of the 1st generation devices (see Stereophile reporting back in 1989). Some of these chips were incorporated in CD players like the Meridian 208 that came out in early 1990, well-reviewed by Paul Miller in High Fidelity.
By 1991, the "second generation" Philips SAA 7350 "bitstream" DAC became available, capable of taking up to 20-bit PCM (from 16-53kHz sample rate) and upsampling to 1-bit SDM applying 3rd order noise shaping (some more history here). It is this DAC chip that's at the heart of the Museatex Melior Bitstream DAC, I believe first released in 1992. Here are the specs from the company.
The exact history of this particular unit I had access to has been shrouded in the sands of time, but was probably purchased around 1995. The original suggested price on one of these was US$899 which would be about equivalent to over US$1500 in 2023. Even to this day, I've seen comments from audiophiles who have a special affinity to the sound of this vintage DAC. Claims to fame included anti-jitter input circuitry (supposedly reducing "glare and harshness"), a custom digital filter allowing for "more accurate signal conversion", and high quality power supply with line noise filtering.
Thanks again to my friend linnrd for digging this unit out from his audio device archives. While externally it looks to be in very good shape, unfortunately, it didn't quite power up normally for me which sadly resulted in this article being more of an "autopsy" rather than actual measurements. I guess having a look inside is still better than nothing for historical documentation if nothing else.