Welcome to our dedicated page for Surmodics news (Ticker: SRDX), a resource for investors and traders seeking the latest updates and insights on Surmodics stock.
Surmodics, Inc. provides medical device and in vitro diagnostic technologies for the health care industry. Its company news has included clinical and regulatory disclosures for the Pounce™ Thrombectomy Platform, including PROWL Registry analyses of peripheral arterial thrombectomy in symptomatic lower-extremity limb ischemia.
Coverage has also included operating and financial results, material agreements, capital-structure updates, and the completed 2025 merger that converted Surmodics from a Nasdaq-listed public company into a wholly owned subsidiary. Product-related updates focus on FDA-cleared mechanical thrombectomy systems designed for non-surgical removal of emboli and thrombi in the peripheral arterial vasculature.
Surmodics, a healthcare technology provider, has agreed to be acquired by GTCR, a private equity firm, for $43.00 per share in cash, valuing the company at approximately $627 million. The acquisition price offers a 41.1% premium over Surmodics' 30-day average closing price through May 28, 2024. The deal, approved unanimously by Surmodics' Board of Directors, is expected to close in the second half of 2024, subject to shareholder and regulatory approval. Following the acquisition, Surmodics will become privately held and delist from Nasdaq. The transaction will be financed through GTCR's equity and debt.
Surmodics, Inc. (Nasdaq: SRDX) reported Q2 FY 2024 results with total revenue of $32.0 million, a 18% increase YoY, excluding SurVeil™ DCB license fee revenue. GAAP net income was $0.2 million. The company launched two new thrombectomy devices, the Pounce™ Venous and Pounce LP, for venous and arterial vasculatures. Surmodics increased revenue and EPS guidance for FY 2024 due to strong performance and product launches, expecting $122-124 million in total revenue.
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