EDEN PRAIRIE, Minn. – March 7, 2025 – Surmodics, Inc., a medical device and in vitro diagnostic technology provider, has responded to the US Federal Trade Commission’s (FTC) announcement that it will challenge the company’s proposed acquisition by funds affiliated with GTCR LLC.
In a statement, Surmodics expressed its disagreement with the FTC’s decision and reiterates its commitment to completing the merger. The company believes that the Merger is pro-competitive and values the benefits it brings to stakeholders, including shareholders, customers, and patients.
Surmodics will vigorously defend itself in court to complete the acquisition, which was announced on May 29, 2024. Under the terms of the agreement, Surmodics’ shareholders will receive $43 per share in cash for a total equity valuation of approximately $627 million. The transaction is expected to be financed through committed equity and debt financing.
The Merger has been approved by Surmodics’ shareholders at a special meeting held on August 13, 2024. However, the FTC’s challenge may have an impact on the deal’s completion, and Surmodics will need to navigate the regulatory landscape to ensure its success.
About Surmodics, Inc.
Surmodics is a leading provider of medical device and in vitro diagnostic technologies. The company develops and commercializes highly differentiated vascular intervention medical devices that address unmet clinical needs. With a focus on improving disease detection and treatment, Surmodics is headquartered in Eden Prairie, Minnesota.
Source: https://finance.yahoo.com/news/surmodics-issues-statement-u-federal-020000547.html