FTC sues to block acquisition of Surmodics

The Federal Trade Commission announced it has sued to block GTCR BC Holdings’ acquisition of Surmodics (SRDX), alleging that the deal, which seeks to combine the two largest manufacturers of critical medical device coatings, is anticompetitive. “The FTC charges that private equity firm GTCR’s proposed acquisition of Surmodics would create a combined company controlling more than 50% of the market for outsourced hydrophilic coatings. These coatings are often used by medical device manufacturers and are applied to lifesaving medical devices such as catheters and guidewires,” the Commission stated.