June 10, 2024

Cross-Practice Faegre Drinker Team Represents Surmodics in Acquisition Agreement

A Faegre Drinker team led by corporate partners Mike Stanchfield, Brandon Mason and Nicole Leimer represented client Surmodics, Inc. — a provider of medical device and in vitro diagnostic technologies to the health care industry — in its entering into a definitive agreement to be acquired by GTCR, a private equity firm. 

Surmodics shareholders will receive $43.00 per share in cash, for a total equity valuation of approximately $627 million. The transaction is expected to close in the second half of calendar year 2024. Upon completion of the transaction, Surmodics will be a privately held company and its common stock will no longer be Nasdaq listed.

The cross-practice, cross-office team that supported this transaction included corporate partners Matt Levy, Noel Spencer, Lisa Pugh and Griffin Foster, and associates Kareem Tawfic, Sheremy Anderson and Allison Schten; business litigation partner Joanne Lewers; health care partner Joy Sharp, counsel Jonathan Keller and associate Carly Helman; intellectual property partner Craig Komanecki and associates Hudson Peters and Joseph Decker; benefits and executive compensation partner Page Fleeger and associate Mark Rosenfeld; real estate partner Paul Moe; and labor and employment partner Dan Prokott and associate Megan Grant.  

Surmodics, Inc., headquartered in Eden Prairie, MN, is a leading provider of performance coating technologies for intravascular medical devices and chemical and biological components for in vitro diagnostic immunoassay tests and microarrays.

Read Surmodics’ press release for more details on the deal.

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