Part of the exit includes the end of the company’s distribution agreement with W.L. Gore & Associates related to the Gore Viabil biliary endoprosthesis. That deal dates back to 2006. Olympus and Gore announced in October that they had struck a new distribution deal for the metal stent device.
Conmed said the move allows it to focus on its core markets, including minimally invasive, robotic and laparoscopic surgery. The company also works across surgical treatment for orthopedic soft tissue repair and smoke evacuation.
According to a news release, Conmed did not plan to renew the deal with Gore beyond Dec. 31, 2026. After a strategic review, it elected to accelerate the timeline, concluding the agreement effective Jan. 1, 2026.
“Today’s announcement reflects a positive step in our strategic portfolio review and our commitment to focus on areas where Conmed can lead in innovation and deliver the greatest impact— minimally invasive surgery, smoke evacuation, and orthopedic soft tissue repair,” said Patrick J. Beyer, Conmed president and CEO. “By concentrating our resources on our core growth platforms, we are positioning Conmed for long-term success and continued leadership in surgical innovation. We are proud of the contributions our gastroenterology team has made to advancing patient care and supporting clinicians over the years, and we thank them for their dedication and impact on the business.”
What does this mean for Conmed on the financial front?
The company said it expects gastroenterology product lines to generate between $90 million and $95 million in revenue in 2025. It anticipates gross margins totaling approximately 45%.
As a result of its strategic exit, Conmed expects EPS dilution of 45¢ to 55¢ in 2026. It expects the exit to improve its consolidated gross margin profile by approximately 80 basis points once complete.
Conmed plans to use proceeds (an undisclosed amount) from the transaction for general corporate purposes. Those could include strategic investments, debt paydown and share repurchases. The company does not expect a material impact on its 2025 financial results.
The Olympus side of this deal
Olympus said that, with Conmed’s exit, the companies have a plan in place for the upcoming transition of commercial support and distribution for Viabil in the U.S.
Effective Jan. 1, 2026, Olympus takes over the distribution of Viabil, with its representatives becoming the primary contact for orders. Until Dec. 31, 2025, Conmed plans to continue fully supporting the product.
Olympus said that all parties remain committed to ensuring that patients and physicians continue to have access to the device.
Gore’s Viabil, a fully covered, self-expanding metal stent, offers a differentiated alternative to relieve symptoms associated with biliary structures. The companies say it has an easy-to-use delivery system and non-foreshortening design for accurate deployment positioning.
Viabil also features a nonporous ePTFE/FEP (expanded polytetrafluoroethylene/fluorinated ethylene propylene) lining that creates a strong, durable barrier. This provides the advantage of a covered stent in preventing tumor ingrowth. Meanwhile, it reduces the migration rate typically seen with covered stents, according to Olympus.
