Surmodics acquisition by GTCR can proceed, Reuters reports

Private equity firm GTCR will be allowed to move forward with its acquisition of medical device coatings maker Surmodics (SRDX), according to Reuters’ Jody Godoy, citing a federal judge in Chicago’s ruling from earlier Monday. The ruling rejected the U.S. Federal Trade Commission’s attempt to block the deal, citing the acquisition eliminating competition between Surmodics and GTCR portfolio company Biocoat. The companies rebutted the criticism, saying any concerns would be alleviated by a partial divestiture of Biocoat assets to Integer (ITGR).