Surmodics Buyout: Why This Quiet Medtech Deal Still Matters for US Investors
Surmodics Inc (NASDAQ: SRDX) has agreed to be acquired by private equity firm GTCR in an all-cash deal, presenting a merger arbitrage opportunity for current shareholders and a case study for evaluating other mid-cap US medtech companies. The acquisition highlights renewed private equity interest in the medtech sector, potential undervaluation of specialized healthcare technologies, and the impact of regulatory clarity on M&A catalysts. For investors, the deal shifts focus from long-term growth to merger risk, timing, and tax considerations.
SurModics, Inc Q1 Earnings Summary
SurModics, Inc (SRDX) reported significant improvements in its Q1 earnings, with net losses decreasing to -$0.79 million from -$7.84 million year-over-year. The company's EPS improved to -$0.06 from -$0.56, and revenue increased to $30.55 million from $24.93 million in the prior year's first quarter. SurModics also provided full-year guidance, projecting EPS between -$1.17 and -$0.87, and revenue between $113 million and $117 million.
Surmodics falls on report about FTC review of GTCR deal
Surmodics (SRDX) stock experienced a decline following a report that the U.S. Federal Trade Commission (FTC) is reviewing GTCR's proposed acquisition of the company. The regulatory scrutiny raises concerns about the potential for delays or complications in the deal's closing. Investors are reacting to the increased uncertainty surrounding the acquisition.
Surmodics Reports Second Quarter Fiscal 2021 Results and Issues Fiscal 2021 Revenue and EPS Guidance
Surmodics, Inc. announced its fiscal second quarter 2021 results, reporting revenue of $35.0 million, a 53% increase year-over-year, and GAAP EPS of $0.58. The company also provided its fiscal year 2021 guidance, expecting total revenue between $101 million and $105 million. These results were driven by strong performance in its In Vitro Diagnostics business and a return to growth in Medical Device coatings royalty revenue, including a $10.8 million license fee from Abbott.
Surmodics (SRDX): Quiet ticker, loud implications – what the latest price action really says
Surmodics (SRDX) stock is currently trading like a special-situation target, largely due to a pending acquisition that has recalibrated investor expectations. The stock's recent flat price action and moderate volumes reflect a market focused on the acquisition's closure, with Wall Street analysts shifting to "Hold" recommendations and price targets near the takeover price. While the immediate future is dominated by transaction certainty, the underlying business maintains strategic value in device technologies and diagnostics, offering a potential standalone story if the deal falters.
Surmodics Unveils New Division to Preserve Biocoat’s Coating Legacy
Surmodics has launched Surmodics Services & Technologies, a new division that will continue the operations of Biocoat's coating services after its merger with Surmodics. This division, based in Horsham, PA, will provide advanced hydrophilic and specialty coating technologies and services to medical device manufacturers. The move aims to maintain Biocoat's legacy within Surmodics, focusing on agility, innovation, and scientific expertise to support next-generation medical devices.
SurModics To Present At Jefferies Global Conference ; Webcast At 3:30 PM ET
SurModics, Inc (SRDX) is scheduled to present at the Jefferies 2013 Global Healthcare Conference in New York City on June 3, 2013, at 3:30 PM ET. A webcast of the presentation will be accessible on the company's website.
Biocoat Announces Formation of Surmodics Services & Technologies Division Following Merger and Divestiture Transactions
Following a merger with Surmodics and the divestiture of certain assets, Biocoat has announced the formation of Surmodics Services & Technologies. This new division will operate as part of Surmodics and continue to provide advanced hydrophilic and other coating technologies, as well as specialized services, to medical device manufacturers. Based in Horsham, Pennsylvania, the division aims to accelerate innovation and support medical devices throughout their full lifecycle.
Biocoat Announces Formation of Surmodics Services & Technologies Division Following Merger and Divestiture Transactions
Biocoat announced the formation of Surmodics Services & Technologies, a new division carrying on the legacy Biocoat business operations after merging with Surmodics and divesting certain assets. This division, based in Horsham, Pennsylvania, will deliver advanced hydrophilic and other coating technologies and specialized services to medical device manufacturers. It aims to accelerate innovation from early concept through commercialization with its end-to-end capabilities.
Surmodics Announces PROWL Registry 160-Patient Data to be Presented in Industry-Sponsored Session at VIVA Conference on November 3
Surmodics, Inc. announced that updated safety and performance data from the PROWL registry, involving 160 patients treated with the Pounce™ Thrombectomy Platform for symptomatic infrainguinal vessels, will be presented at the 23rd Annual VIVA Conference on November 3rd. The PROWL registry evaluates the Pounce™ Thrombectomy Platform for the non-surgical removal of emboli and thrombi in the peripheral arterial vasculature, with the presentation detailing real-world clinical outcomes and case insights. The Pounce™ Thrombectomy Platform consists of FDA-clear mechanical thrombectomy devices designed for prompt clot removal without thrombolytics or aspiration.
Private equity firm finally closes $627 million deal to acquire Surmodics
GTCR has finalized its $627 million acquisition of Surmodics after overcoming legal challenges from the Federal Trade Commission. The FTC had initially sought to block the deal on antitrust grounds, but a favorable court ruling cleared the way for the transaction's completion. Surmodics, an Eden Prairie-based medtech company, will now operate as a private entity, with its shares delisted from the Nasdaq market.
Surmodics acquisition by GTCR set to close after FTC drops challenge
Surmodics Inc. announced that its acquisition by GTCR LLC is expected to close promptly after the Federal Trade Commission (FTC) decided not to appeal a court ruling that denied its request to block the deal. This news has contributed to a significant surge in Surmodics' stock value. Despite facing regulatory scrutiny and a temporary restraining order, the acquisition is moving forward, with other closing conditions still pending.
Surmodics gains as FTC won't appeal denial of GTCR deal injunction (SRDX:NASDAQ)
Surmodics (SRDX) saw a 3% rise in premarket trading after announcing that the Federal Trade Commission (FTC) would not appeal the denial of an injunction against its sale to GTCR. This decision clears the way for Surmodics to proceed with the planned acquisition by GTCR.
Surmodics Inc Announces Court Decision on GTCR Acquisition
Surmodics Inc announced a court decision favoring its acquisition by GTCR LLC, with the court denying the FTC's request to block the deal. The merger is subject to customary closing conditions and no legal restraints, and is expected to benefit physicians, patients, and customers.
Surmodics Announces FTC Does Not Intend to Appeal Denial of Injunction, Order Preventing Closing Set to Expire Today
Surmodics, Inc. announced its expectation to promptly close its acquisition by an affiliate of GTCR LLC, as the Federal Trade Commission (FTC) stated it will not appeal the denial of a preliminary injunction. The closing is contingent on the expiration of a Temporary Restraining Order on November 17, 2025, and other customary closing conditions. Surmodics is working expeditiously to finalize the merger for the benefit of its stakeholders.
63,050 Shares in Surmodics, Inc. $SRDX Acquired by Thompson Davis & CO. Inc.
Thompson Davis & CO. Inc. has acquired a new stake of 63,050 shares in Surmodics, Inc. (NASDAQ:SRDX) valued at approximately $1.87 million, making it their 12th-largest position. Institutional investors and hedge funds own 96.63% of Surmodics stock. Analysts currently rate SRDX as a "Hold" with a consensus target price of $43.00, though Surmodics stock opened at $41.52, near its 52-week high.
Surmodics Announces U.S. District Court Denies Request for Preliminary Injunction to Block Proposed Acquisition by GTCR
Surmodics, Inc. announced that the U.S. District Court denied a preliminary injunction request by the FTC and state regulators, which would have blocked its acquisition by GTCR LLC. The denial is a significant step towards completing the merger, although it remains subject to a Temporary Restraining Order and other closing conditions. CEO Gary Maharaj believes the merger will benefit physicians, patients, and customers.
Surmodics Stock Soars Amid Positive Registry Study Results and Court Ruling
Surmodics Inc.'s stock surged by 49.94% following positive results from its PROWL Registry study for the Pounce™ Thrombectomy Platform and a favorable court ruling. The study showed a high procedural success rate of 91.7%, while the denial of a preliminary injunction advances the company's acquisition plans with GTCR, boosting investor confidence despite ongoing legal hurdles. The company's future trajectory is influenced by clinical success, market confidence, and regulatory navigation, with the merger expected to enhance operational efficiencies.
Surmodics surges after court denies injunction to block sale to GTCR (SRDX:NASDAQ)
Surmodics (SRDX) stock surged 49% in premarket trading after a federal court judge denied the Federal Trade Commission's request for a preliminary injunction to block the company's sale to GTCR. This decision paves the way for the planned acquisition to proceed.
Surmodics stock soars after court denies injunction blocking GTCR acquisition
Surmodics Inc. (NASDAQ:SRDX) stock surged 50% after a U.S. District Court denied the Federal Trade Commission’s request for a preliminary injunction against its acquisition by GTCR LLC. This ruling removes a significant obstacle for the merger, though a Temporary Restraining Order remains until November 17, and other closing conditions must still be met. Surmodics' CEO stated that the merger is expected to provide compelling benefits for physicians, patients, and customers.
Surmodics Announces Outcomes from 160 Patients in PROWL Registry Evaluating Pounce™ Thrombectomy Platform in Treatment of Real-World Limb Ischemia Presentations
Surmodics, Inc. announced results from its PROWL registry study, highlighting high procedural success and safety of the Pounce™ Thrombectomy Platform in 160 real-world patients with symptomatic infrainguinal limb ischemia. The study demonstrated the platform's effectiveness across a diverse patient cohort, including those with symptoms lasting over two weeks, without the need for extensive adjunctive treatments. This indicates the Pounce Platform is a rapid and effective option for treating peripheral arterial clots, addressing limitations of previous studies that excluded patients with longer symptom durations.
Surmodics to Report Third Quarter of Fiscal 2025 Financial Results on August 8
Surmodics, Inc. announced that its third-quarter fiscal year 2025 financial results will be released on Friday, August 8, before the market opens. Due to a pending acquisition by GTCR, the company will not host a live webcast or conference call to discuss these results. Surmodics is a medical device and in vitro diagnostic technology provider based in Eden Prairie, Minnesota.
Behavioral Patterns of SRDX and Institutional Flows - news.stocktradersdaily.com
This article analyzes behavioral patterns and institutional flows for Surmodics Inc. (NASDAQ: SRDX), indicating weak sentiment across all horizons and supporting a short bias. It highlights an exceptional 60.0:1 risk-reward short setup with a targeted 16.4% downside. The piece also details AI-generated trading strategies and multi-timeframe signal analysis for SRDX.
Surmodics unveils Pounce LP Thrombectomy System innovation - Traders Union
Surmodics recently highlighted its Pounce LP Thrombectomy System, featured in a video by Dr. Kevin Onofrey. This device is designed for treating peripheral arterial disease, representing a significant advancement in medical technology for limb salvage. The company emphasizes its dedication to innovative healthcare solutions for patients with such conditions.
US FTC delays GTCR-Surmodics evidentiary hearing until Feb. 2, 2026
The US Federal Trade Commission has postponed the evidentiary hearing for the GTCR BC-Surmodics case until February 2, 2026. This decision also entails a sixty-day extension for all pre-hearing deadlines. The administrative law judge has been instructed to reschedule a status conference for on or after December 1.
Surmodics sees FY24 EPS ($1.17)- (87c), consensus ($1.16)
Surmodics has updated its fiscal year 2024 guidance, now expecting total revenue to range from $117M to $121M, with GAAP diluted loss per share between $(1.40) and $(1.10), and non-GAAP diluted loss per share between $(1.17) and $(0.87). The company's revised outlook for revenue and EPS shows slight adjustments compared to its prior guidance.
Surmodics Inc. Agrees to $627M Acquisition by GTCR
Surmodics Inc., a medical device and in vitro diagnostic technologies provider, has entered into a definitive agreement to be acquired by private equity firm GTCR. The acquisition values Surmodics Inc. at approximately $627 million, with shareholders receiving $43.00 per share in cash. Faegre Drinker is providing legal counsel to Surmodics Inc. for the transaction, which is expected to close in the second half of 2024, after which Surmodics Inc. will become a privately held company.
Surmodics Enters into Definitive Agreement to be Acquired by GTCR for $43.00 Per Share in Cash, Representing an Approximate Equity Value of $627 Million
Surmodics, Inc. announced a definitive agreement to be acquired by GTCR for $43.00 per share in cash, totaling an approximate equity value of $627 million. This acquisition price represents a 41.1% premium to Surmodics’ 30-trading day volume-weighted average closing price through May 28, 2024. The transaction, unanimously approved by Surmodics' Board of Directors, is expected to close in the second half of calendar year 2024, after which Surmodics will become a privately held company.
Ureteral Stents Market to worth US$ 828.4 Million by 2030, Coherent Market Insights
The global ureteral stents market is projected to reach US$ 828.4 million by 2030, growing at a CAGR of 5.6% from 2022. This growth is driven by the rising prevalence of urolithiasis and increasing nephrolithotomy procedures. Key market trends include the adoption of biodegradable and active ureteral stents, with metal stents and double pigtail stents expected to dominate their respective segments.
Surmodics agrees to $627M private equity buyout
Surmodics, a medical device coatings and diagnostics components maker, has agreed to be acquired by private equity firm GTCR for approximately $627 million, or $43 per share. This deal represents a significant premium and will take Surmodics private by the second half of the year, with analysts expecting no higher offers or antitrust issues. The acquisition is seen as a strategic move for GTCR due to Surmodics' specialization in medical device components and potential for cost savings if combined with other portfolio companies.
Surmodics Going Private in $627M Deal
Surmodics Inc., a medtech company, is being acquired by Chicago-based private equity firm GTCR for $627 million, marking its transition from a publicly traded company. Shareholders are expected to receive $43 per share in cash, a 41.1% premium. The deal is not anticipated to bring significant immediate changes to Surmodics' operations or employee base.
Surmodics to be acquired by private equity firm for $627M
Surmodics is set to be acquired by the private equity firm GTCR for approximately $627 million, with shareholders receiving $43 per share in cash. This acquisition price represents a 41.1% premium to Surmodics’ 30-day average closing price. The deal is expected to close in the second half of this calendar year, after which Surmodics will become a privately held company.
Surmodics to Report Fourth Quarter and Fiscal Year 2022 Financial Results on November 9th
Surmodics, Inc. announced it will release its fourth quarter and fiscal year 2022 financial results before the market opens on Wednesday, November 9th. Management will host a live webcast and conference call at 7:00 a.m. CT (8:00 a.m. ET) the same day to discuss the results and hold a Q&A session. Access details for the webcast and teleconference replay are provided for investors.
CEO Paywatch: Gary Maharaj of Surmodics
Gary Maharaj, CEO of Surmodics, realized $4.4 million in compensation in the fiscal year ending September 2021, a significant increase from the previous year, largely due to exercising stock options. The company saw a total revenue growth of 10.8% over 2020 and its shares returned 42.9% to shareholders, despite pandemic challenges. Maharaj's compensation increase was also attributed to a base salary raise and a 27% rise in annual incentive pay due to the company achieving 150% of its targeted annual incentives.
Market Assessment: PTA Balloon Catheters In The U.S., EU, And U.K.
This article analyzes the market for PTA balloon catheters in the U.S., EU, and U.K., specifically in the wake of a 2018 meta-analysis suggesting a link between paclitaxel-coated devices and increased mortality. It explores the current status of drug-coated balloons, market forecasts under various adoption scenarios, and competitive landscape shifts due to safety concerns and advancements in sirolimus-based alternatives. The authors discuss the ongoing scientific debate and market implications, highlighting that while paclitaxel-coated devices face scrutiny, sirolimus-coated balloons present new opportunities.
Bruce J. Barclay Obituary May 14, 2019
Bruce J. Barclay passed away peacefully on May 14, 2019, at the age of 62. He was a patent lawyer and CEO of several medical companies, but his greatest joy was his family. Funeral services will be held on Friday, May 24, 2019, in Indianapolis, with donations suggested to the UCSF Grand Multiple Myeloma Translational Initiative in his memory.
Abbott and Surmodics Announce Agreement for Next-Generation Drug-Coated Balloon
Abbott and Surmodics have entered into an agreement for Abbott to have exclusive worldwide commercialization rights for Surmodics' SurVeil® drug-coated balloon, which is currently in a U.S. pivotal clinical trial. The collaboration will involve product development, clinical trials, and regulatory activities for approval in the U.S. and Europe, with the SurVeil drug-coated balloon complementing Abbott's existing vascular care products for peripheral artery disease. Surmodics will receive a $25 million upfront payment and potentially $67 million for milestones, along with revenue from product supply and a share of profits from third-party sales.
Abbott, Surmodics ink $25m deal for drug-coated balloon tech
Abbott will pay Surmodics $25 million upfront for global commercialization rights to its SurVeil drug-coated balloon, designed to treat peripheral artery disease. The deal includes potential milestone payments of an additional $67 million and opportunities for Abbott to negotiate agreements for other Surmodics drug-coated balloons. Both companies will collaborate on development and regulatory approval for the SurVeil balloon in the U.S. and Europe.
Evonik purchases Birmingham-based pharmaceutical company
Evonik Industries AG announced its acquisition of Birmingham-based SurModics Pharmaceuticals Inc. for $30 million. This purchase is intended to strengthen Evonik's pharmaceutical application business. SurModics Pharmaceuticals specializes in injectable drug delivery systems and had revenues exceeding $15 million in 2010.
SurModics Board Authorizes Strategic Alternatives - Quick Facts
SurModics, Inc. announced that its Board of Directors has authorized exploring strategic alternatives for its SurModics Pharmaceuticals business, including a potential sale. The company has retained Piper Jaffray & Co as its financial advisor for this process. This strategic review does not include SurModics' Medical Device drug delivery technologies or its I-vation drug delivery platform.
