CONMED Announces Definitive Agreement to Acquire SurgiQuest, Inc.
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Conmed (CNMD) Announces Acquisition of SurgiQuest; Leerink Partners Reiterates Outperform
November 16, 2015 3:17 PM ESTLeerink Partners reiterated an Outperform rating and $51.00 price target on CONMED (NASDAQ: CNMD) following the company's announced acquisition of SurgiQuest for $265M in cash. CNMD is financing the deal through cash and a new term loan ($150M) with a deal close expected in 1Q16.... More
Conmed (CNMD) to Acquire SurgiQuest in $265M Deal
November 16, 2015 7:01 AM ESTConmed (NASDAQ: CNMD) announced a definitive agreement to acquire privately-held SurgiQuest, Inc. (SurgiQuest) for $265 million on a cash-free, debt-free basis. The transaction will be financed through a combination of cash and borrowings under a new credit facility. The transaction is subject to customary closing conditions, including receipt of U.S. regulatory approval, and is expected to close in the first quarter of 2016.
Founded in 2006 and headquartered in Milford, Connecticut, SurgiQuest develops, manufactures, and markets the AirSeal® System (AirSeal), the first integrated access management technology for use in laparoscopic and robotic procedures. AirSeal consists... More
