SurModics

SurModics

Designs and produces bio-resorbable polymers. Learn more

Launch date
Employees
Market cap
AUD860m
Enterprise valuation
AUD853m (Public information from Sep 2024)
Eden Prairie Minnesota (HQ)

Financials

Estimates*

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Revenues, earnings & profits over time
USD2019202020212022202320242025
Revenues100m94.9m105m100m133m123m138m
% growth23 %(5 %)11 %(5 %)33 %(7 %)12 %
EBITDA15.0m<1m11.6m(13.0m)14.6m--
% EBITDA margin15 %1 %11 %(13 %)11 %--
Profit7.6m1.1m4.2m(27.3m)(1.5m)--
% profit margin8 %1 %4 %(27 %)(1 %)--
R&D budget52.9m50.2m-----
R&D % of revenue53 %53 %-----
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DateInvestorsAmountRound
N/A

N/A

IPO

$30.0m

Acquisition
*

$125m

Post IPO Debt
*

$627m

Valuation: $627m

Buyout
Total Funding-

Recent News about SurModics

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More about SurModicsinfo icon
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Surmodics, a company with over 40 years of experience, specializes in providing essential components for in vitro diagnostic (IVD) products and advanced medical device coatings. The company operates in the healthcare and biotechnology markets, serving clients that range from diagnostic companies to medical device manufacturers.

Surmodics offers a wide array of products for IVD applications, including ELISA (enzyme-linked immunosorbent assay) protein stabilizers, diluents, blockers, substrates, stop solutions, support reagents, antigens, antibodies, and microarray slides. These products are crucial for developing sensitive and reproducible immunoassays, which are tests used to detect and measure substances in biological samples. The company’s high-performance formulations help clients bring their products to market more quickly.

In addition to IVD products, Surmodics is a leader in developing and supplying advanced coatings for medical devices. These coatings include lubricious (slippery), hemocompatible (blood-compatible), and drug delivery coatings. The company has a strong track record of innovation, having developed the drug delivery coating for the first drug-eluting stent—a device used to keep arteries open in the heart.

Surmodics operates a business model that focuses on close collaboration with clients to bring new products from concept to commercialization. This often involves accelerated timelines to meet market demands. The company generates revenue by selling its IVD products and medical device coatings, as well as by providing design and production services for advanced balloon catheters in the U.S. and Ireland.

In summary, Surmodics is a key player in the healthcare and biotechnology sectors, offering critical components for diagnostic tests and innovative coatings for medical devices. The company’s commitment to client success and rapid product development sets it apart in the industry.

Keywords: In vitro diagnostics, immunoassays, medical devices, coatings, ELISA, drug delivery, biotechnology, healthcare, commercialization, collaboration.

Tech stack

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Tech stackLearn more about the technologies and tools that this company uses.

Investments by SurModics

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Vetex Medical
ACQUISITION by SurModics Jul 2021