What to know about the new Surmodics acquisition:

  • Surmodics, the Eden Prairie-based medical device company specializing in coatings and in vitro diagnostics, has acquired Vertex Medical Ltd., another medical device company based in Ireland
    • Surmodics is paying $39.9 million upfront with room for an additional $7 million depending on regulations and product milestones
  • Vertex makes devices to remove venous thromboembolism (VTE), blockages in veins typically found in the lower leg, thighs, or pelvis
    • Vertex was granted FDA approval in December 2020, following Surmodics’ FDA approval of its Pounce Thrombus Retrieval System
  • Vertex’s five employees in Galway, Ireland, are expected to join a Surmodics R&D team in Ballinasloe, Ireland

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