ConMed (NSDQ:CNMD) subsidiary SurgiQuest lost an intellectual property spat with Lexion Medical last week when a U.S. patent board invalidated a trocar patent. SurgiQuest sued Lexion last year, alleging infringement of patent no. 9,095,372B2, covering a “system and method for improved gas recirculation in surgical trocars with pneumatic sealing,” by Lexion’s line of Insuflow Synergy […]
ConMed slumps on Q4 earnings release, despite EPS beat
ConMed (NSDQ:CNMD) released its 4th quarter and full year earnings late Wednesday, reporting profits dipping 30% from last year and seeing shares tumble the next day, down nearly 12%. The Utica, N.Y.-based company reported profits of $7.9 million, or 28¢ per share, on sales of $191 million for the 3 months ended December 31. ConMed saw […]
ConMed closes $265m SurgiQuest buy
ConMed (NSDQ:CNMD) said today that it closed the acquisition of SurgiQuest, which makes the AirSeal device for use in minimally invasive abdominal surgeries. The $265 million deal, announced just a week after Milford, Conn.-based SurgiQuest filed for a $75 million initial public offering last November, was funded with a $175 million term loan and a $525 million credit revolver. Utica, N.Y.-based […]
ConMed to drop $265m on SurgiQuest
ConMed (NSDQ:CNMD) said it agreed to pay $265 million to acquire SurgiQuest, which just last week filed for an initial public offering. Milford, Conn.-based SurgiQuest makes the AirSeal device for use in minimally invasive abdominal surgeries. AirSeal is designed to insufflate the rectum and provide continuous smoke evacuation. ConMed, which is based in Utica, N.Y., said […]
SurgiQuest files for $75m IPO
SurgiQuest this week registered for an initial public offering estimated at $75 million. Milford, Conn.-based SurgiQuest makes the AirSeal device for use in minimally invasive abdominal surgeries. AirSeal is designed to insufflate the rectum and provide continuous smoke evacuation. “We believe our AirSeal technology represents the first major innovation in minimally invasive surgical access since the introduction […]
SurgiQuest lures ex-Smith & Nephew exec Dugan
SurgiQuest lured a medical device industry heavyweight to its executive team with the appointment of Tom Dugan, former Smith & Nephew (NYSE:SNN) exec, as president & chief commercialization officer.
Funding: SurgiQuest locks up $18.5 million
SurgiQuest closed an $18.5 million Series D financing round, raising funds through a mix of equity and debt financing.
The Milford, Conn.-based medical device company develops technology for laparoscopic procedures, with features designed to remove electrosurgical smoke and keep endoscopic imaging instruments’ field of vision clear.
ConforMIS lands $1.4 million MassDevelopment loan | Funding Roundup
ConforMIS Inc. is on a roll the announcement that it secured a $1.4 million loan from MassDevelopment’s Emerging Technology Fund.
The loan will go toward growing the Burlington, Mass.-based company’s supply chain and manufacturing capacity for its iTotal customized knee replacement system.
Connecticut device makers tout approvals for surgical implements
A pair of Connecticut medical device firms won regulatory nods in the U.S. and Europe.
SurgiQuest Inc. won 510(k) clearance from the Food & Drug Administration for its new line of 5mm AnchorPort laparoscopy trocars and Vascular Insights LLP landed CE Mark approval in Europe for its ClariVein Occlusion Catheter.
SurgiQuest touts its device’s ability to adjust for differences in each patient, calling it "the world’s first elastomeric single incision laparoscopy kit."
SurgiQuest drums up $14.5 million
SurgiQuest Inc. drummed up $14.5 million in new backing from 11 un-named investors, according to a regulatory filing.
The Orange, Conn.-based device maker is developing technology for laparoscopic procedures that’s designed remove electrosurgical smoke and keep endoscopic imaging instruments’ field of vision clear. While the filing did not reveal the identities of SurgiQuest’s latest backers, two members of its board of directors listed on the document also represent venture capital firms: Rodney Altman of CMEA Ventures and Ned Scheetz of Aphelion Capital LLC.
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