Surmodics (Nasdaq:SRDX) stock was trading down 9% today after the device developer reported financial results that fell short of Wall Street analyst expectations. The company also offered full-year guidance for the first time since the May 2024 announcement of its $627 million deal to be acquired by private equity firm GTCR. The FTC has sued […]
Surmodics
Surmodics launches Pounce XL thrombectomy system
Surmodics (Nasdaq:SRDX) announced today that it commercially launched the Pounce XL thrombectomy system for clot removal. Pounce XL joins the larger suite of Pounce thrombectomy systems. They offer rapid endovascular removal of acute or chronic clot from peripheral arteries. Eden Prairie, Minnesota-based Surmodics designed Pounce to enable physicians to rapidly restore blood flow regardless of […]
FTC challenges private equity firm’s acquisition of Surmodics
The U.S. Federal Trade Commission (FTC) has sued to block the planned acquisition of medical device company Surmodics by GTCR. According to a news release, GTCR also owns a majority stake in Biocoat. The FTC says Biocoat is the second-largest provider of outsourced hydrophilic medical device coatings, behind only Surmodics. As a result, the FTC believes the deal […]
Surmodics reports first clinical use of thrombectomy system
Surmodics (Nasdaq:SRDX) today announced the successful early clinical use of its Pounce XL thrombectomy system. The early use comes as part of a limited market release. Surmodics plans for a full commercial launch planned for after the initial rollout. Pounce XL received FDA 510(k) clearance in September 2024. Dr. Walter Rizzoni used the system to […]
Layoffs in medtech: These companies recently reduced their workforce
Medtech layoffs are picking up as 2024 draws to a close. Sean Whooley, Associate Editor, and Chris Newmarker, Editor-in-Chief The medical device industry is closing out the year with a fresh round of layoffs. At this point, MassDevice has reported on more than 22,000 medtech job cuts across the industry since mid-2022. (Have a tip […]
FDA clears Surmodics’ Pounce XL thrombectomy system
Surmodics (Nasdaq:SRDX) announced today that it received FDA 510(k) clearance for its Pounce XL thrombectomy system. The FDA indicated Pounce XL for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature in vessels 5.5–10 mm in diameter. That makes it suitable for iliac, femoral, and other arteries within this range. Pounce XL […]
Surmodics to be acquired by private equity firm for $627M
Surmodics (Nasdaq:SRDX) announced today that it agreed to be acquired by GTCR, a private equity firm with healthcare interests. Eden Prairie, Minnesota-based Surmodics develops a range of technologies, including drug-coated balloons and thrombectomy systems. Its SurVeil DCB received a long-awaited FDA approval in June 2023. The company also reported successful early clinical use of its […]
Surmodics has positive early results from thrombectomy system
Surmodics (Nasdaq:SRDX) today announced the successful early clinical use of its Pounce LP thrombectomy system. Eden Prairie, Minnesota-based Surmodics designed the LP (low-profile) thrombectomy system for the non-surgical removal of thrombi and emboli from the peripheral arterial vasculature. It performs this removal in vessels between 3.5 mm and 6 mm in diameter. It introduced the […]
Surmodics has positive data on multiple drug-coated balloons
Surmodics (Nasdaq:SRDX) today announced positive study results for two of its drug-coated balloon (DCB) technologies. The company presented data supporting the SurVeil and Sundance DCBs at the 50th Annual VEITH Symposium in New York. In the TRANSCEND trial, Surmodics evaluated the safety and efficacy of SurVeil versus the Medtronic In.Pact Admiral DCB. The trial evaluated […]
Surmodics launches new medical device coating technology
Surmodics (Nasdaq:SRDX) announced today that it launched its most advanced hydrophilic medical device coating technology. Eden Prairie, Minnesota-based Surmodics designed the Preside coatings to complement its existing Serene hydrophilic coatings. Preside offers a unique, low-friction and low-particulate generation coating. It further enhances distal access for neurovascular applications and improves crossing for coronary lesions or chronic […]
FDA approves Surmodics SurVeil drug-coated balloon
Surmodics announced today that the FDA granted approval for its SurVeil drug-coated balloon (DCB). Eden Prairie, Minnesota–based Surmodics may now market and sell SurVeil in the U.S. for percutaneous transluminal angioplasty. Use follows appropriate vessel preparation or de novo or restenotic lesions in femoral and popliteal arteries. These arteries feature reference vessel diameters of between […]
