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