Conmed (CNMD) Announces Acquisition of SurgiQuest; Leerink Partners Reiterates Outperform

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Unusual 11 Mid-Day Movers 11/16: (MYOS) (SVT) (GEVO) Higher; (CLVS) (CHLN) (OHGI) Lower

November 16, 2015 1:00 PM EST

MYOS Corporation (Nasdaq: MYOS) 71.5% HIGHER; charging back above the $3 level and nearly to $4 on volume. Notably, the stock's 200-day SMA is currently just over $4.

Clovis Oncology (Nasdaq: CLVS) 70.7% LOWER; announced that during its regularly scheduled Mid-Cycle Communication Meeting held last week with the U.S. Food and Drug Administration (FDA), the agency requested additional clinical data for use in the efficacy analysis for both the 500mg and 625mg BID dose patient groups for rociletinib. The Company will... More

Conmed (CNMD) to Acquire SurgiQuest in $265M Deal

November 16, 2015 7:01 AM EST

Conmed (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