Surmodics specializes in providing essential components for in vitro diagnostic (IVD) products and advanced coatings for medical devices. Their IVD offerings include a variety of products such as protein stabilizers, diluents, blockers, substrates, and antibodies, which are vital for creating sensitive immunoassays that detect substances in biological samples. Surmodics also develops advanced coatings for medical devices, including lubricious and hemocompatible coatings, and is known for creating the drug delivery coating for the first drug-eluting stent. The company collaborates closely with clients to accelerate product development and commercialization, distinguishing itself from competitors through its focus on client success and rapid timelines. Surmodics aims to support the healthcare and biotechnology sectors by providing high-quality products that help clients bring their innovations to market efficiently.

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Principal Financial Group Inc. makes new investment in Surmodics, Inc. (NASDAQ:SRDX).

Principal Financial Group Inc. Makes New Investment in Surmodics, Inc. (NASDAQ:SRDX)

Algert Global LLC makes new $577,000 investment in Surmodics, Inc. (NASDAQ:SRDX).

Algert Global LLC Makes New $577,000 Investment in Surmodics, Inc. (NASDAQ:SRDX)

Surmodics has agreed to be acquired by GTCR for $43.00 per share in cash, valuing the company at approximately $627 million. This acquisition price represents a 41.1% premium over Surmodics' 30-day average closing price through May 28, 2024. The deal, approved unanimously by Surmodics' Board, is expected to close in the second half of 2024, subject to shareholder and regulatory approval. Post-acquisition, Surmodics will delist from Nasdaq and become privately held.

Surmodics Acquired by GTCR for $627M

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Surmodics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its second quarter ended March 31, 2024, and updated financial guidance for its fiscal year ending September 30, 2024. Second Quarter Fiscal 2024 Financial SummaryTotal Revenue of $32.0 million, an increase of 18% year-over-yearTotal Revenue excluding SurVeil™ drug-coated balloon (“DCB”) license fee revenue(1) of $30.9 million, an increase of 19% year-over-yearGAAP net income of $0.2 million, compared to a net loss of $(7.7) million in the prior-year periodAdjusted EBITDA(2) of $4.8 million, compared to $(1.5) million in the prior-year periodSecond Quarter and Recent Business HighlightsOn January 22, 2024, Surmodics announced the successful early clinical use and limited market evaluation (LME) of the Pounce LP (Low Profile) Thrombectomy System, which is designed for removal of acute-to-chronic thrombi and emboli in peripheral arteries ranging from 2 mm to 4 mm, such as those found below the knee.Today, Surmodics is announcing the completion of LME and commercial launch of two new mechanical thrombectomy systems for the peripheral venous and arterial vasculatures, the Pounce Venous Thrombectomy System and the Pounce LP Thrombectomy System. The Pounce Venous Thrombectomy System, which transitioned to commercial launch in March, is designed to remove mixed-morphology, wall-adherent peripheral venous clot in a single treatment session while minimizing the need for thrombolytics.The Pounce LP Thrombectomy System, which transitioned to commercial launch in April, addresses an important unmet need for the prompt removal of acute-to-chronic thrombi or emboli in below-the-knee arteries 2 to 4 mm in diameter while minimizing the need for thrombolytics

Surmodics Reports Second Quarter Of Fiscal Year 2024 Financial Results; Updates Fiscal Year 2024 Financial Guidance

Today, Surmodics is announcing the completion of LME and commercial launch of two new mechanical thrombectomy systems for the peripheral venous and arterial vasculatures, the Pounce Venous Thrombectomy System and the Pounce LP Thrombectomy System.

Surmodics Reports Second Quarter of Fiscal Year 2024 Financial Results; Updates Fiscal Year 2024 Financial Guidance

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Surmodics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its first quarter ended December 31, 2023, and updated its financial guidance for fiscal year ending September 30, 2024. First Quarter Fiscal 2024 Financial SummaryTotal Revenue of $30.6 million, an increase of 23% year-over-yearTotal Revenue excluding SurVeil™ drug-coated balloon (“DCB”) license fee revenue(1) of $29.6 million, an increase of 25% year-over-yearGAAP net loss of $(0.8) million, compared to $(7.8) million in the prior-year periodAdjusted EBITDA(2) of $3.9 million, compared to $(3.3) million in the prior-year periodFirst Quarter and Recent Business HighlightsOn October 31, 2023, Surmodics announced the launch of its Preside™ medical device coating technology providing industry-leading lubricity and durability to a broader range of complex device applications.On November 16, 2023, Surmodics announced that 36-month data from its TRANSCEND clinical trial of the company’s SurVeil DCB was presented at the Symposium on Vascular and Endovascular Issues (“VEITHsymposium”) in New York, NY, with the SurVeil DCB demonstrating sustained durability of the trial’s safety and efficacy endpoints.On November 16, 2023, Surmodics announced that 24-month data from its SWING trial, a first-in-human study of the company’s Sundance™ Sirolimus DCB, was presented at the VEITHsymposium, with a per protocol analysis demonstrating that primary patency was maintained in the target lesion in 71% of patients at 24-months, with an excellent safety profile.On January 22, 2024, Surmodics announced the successful early clinical use of the Pounce™ LP (Low Profile) Thrombectomy System, designed to address a critical, unmet need by facilitating removal of thrombi and emboli below the knee.“We delivered total revenue growth in the first quarter that exceeded our expectations, increasing 23% year-over-year – 25% excluding SurVeil DCB license fees(1) – with impressive performance in both our Medical Device and In Vitro Diagnostics business segments,” said Gary Maharaj, President and CEO of Surmodics, Inc. “Our Medical Device segment revenue benefited from record product sales, which increased 43% year-over-year fueled by sales of our vascular interventions portfolio, including strong contributions from both our SurVeil DCB and Pounce thrombectomy products. Importantly, we were pleased to complement our revenue performance in the quarter with notable year-over-year improvements in our GAAP net loss and Adjusted EBITDA,(2) as well as significant operational progress with respect to each of our three strategic objectives for fiscal 2024.”. Mr

Surmodics Reports First Quarter Of Fiscal Year 2024 Financial Results; Updates Fiscal Year 2024 Financial Guidance

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Surmodics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitro diagnostic technologies, today announced successful early clinical use of the company’s Pounce™ LP (Low Profile) Thrombectomy System. The Pounce LP Thrombectomy System, which received U.S. Food and Drug Administration (FDA) clearance in June 2023, is currently in limited market evaluation (LME), with full commercial launch planned following completion of the LME. Surmodics’ Pounce Thrombectomy devices are intended for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature. The new Pounce LP Thrombectomy System is indicated for use in vessels ranging from 2 mm to 4 mm in diameter, sizes typical of vessels found below the knee

Surmodics Announces Successful Early Clinical Use Of Pounce™ Lp (Low Profile) Thrombectomy System, Designed To Address A Critical, Unmet Need By Facilitating Removal Of Thrombi And Emboli Below The Knee

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Surmodics, Inc. (Nasdaq: SRDX), a leading provider of medical device and in vitro diagnostic technologies to the healthcare industry, today reported financial results for its fourth quarter and fiscal year ended September 30, 2023, and introduced its financial guidance for the fiscal year ending September 30, 2024. Fourth Quarter Fiscal 2023 Financial SummaryTotal Revenue of $28.0 million, an increase of 8% year-over-yearTotal Revenue excluding SurVeil™ DCB license fee revenue(1) of $26.9 million, an increase of 12% year-over-yearGAAP Diluted EPS of $0.47, compared to $(1.06) in the prior-year periodNon-GAAP Diluted EPS of $0.53, compared to $(0.26) in the prior-year periodFiscal Year 2023 Financial SummaryTotal Revenue of $132.6 million, an increase of 33% year-over-yearTotal Revenue excluding SurVeil DCB license fee revenue(1) of $103.0 million, an increase of 9% year-over-yearGAAP Diluted EPS of $(0.11), compared to $(1.96) in the prior-year periodNon-GAAP Diluted EPS of $0.16, compared to $(0.95) in the prior-year periodFourth Quarter and Recent Business HighlightsOn October 31, 2023, Surmodics announced the launch of its Preside™ medical device coating technology providing industry-leading lubricity and durability to a broader range of complex device applications.On November 7, 2023, Surmodics announced that 24-month data from its SWING first-in-human study of the company’s Sundance™ Sirolimus DCB will be presented at the Symposium on Vascular and Endovascular Issues (“VEITHsymposium”) in New York, NY on November 15, 2023.On November 7, 2023, Surmodics announced that 36-month data from its TRANSCEND clinical trial of the company’s SurVeil DCB will be presented at the VEITHsymposium in New York, NY on November 15, 2023.“We are pleased with our revenue performance in the fourth quarter, which increased 8% year-over-year – 12% excluding SurVeil DCB license fees(1) – and ultimately exceeded our guidance range, driven by impressive contributions from both of our business segments,” said Gary Maharaj, President and CEO of Surmodics, Inc. “We complemented our fourth quarter revenue performance with notable operating results, delivering positive Adjusted EBITDA and generating cash flow from operations. In addition to our financial accomplishments, we also made strong progress with respect to each of our key strategic objectives: supporting the future commercialization of our SurVeil DCB, advancing the initial commercialization of our Pounce™ arterial thrombectomy and Sublime™ radial access platforms, and driving strong revenue growth and cash flow from our ‘core’ medical device performance coatings and In Vitro Diagnostics businesses on a combined basis.”. Mr

Surmodics Reports Fourth Quarter And Fiscal Year 2023 Financial Results; Introduces Fiscal Year 2024 Financial Guidance

Surmodics launches Preside hydrophilic coatings for neurovascular, coronary and peripheral applications.

Surmodics launches Preside hydrophilic coatings for neurovascular, coronary and peripheral applications

Surmodics announces launch of Preside Medical Device coating technology, providing industry-leading lubricity and durability to a broader range of complex device applications.

Surmodics Announces Launch of Preside Medical Device Coating Technology, Providing Industry-Leading Lubricity and Durability to a Broader Range of Complex Device Applications

Provides components for diagnostics and medical devices

Surmodics

Provides components for diagnostics and medical devices

Surmodics

Provides components for diagnostics and medical devices

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