SurModics

What SurModics does

SurModics, Inc. (NASDAQ: SRDX prior to acquisition; legally Surmodics, Inc., domiciled in Minnesota) is a medical device coatings and in vitro diagnostics company founded in 1979 and headquartered in Eden Prairie, Minnesota with a second manufacturing facility in Ballinasloe, Ireland. The company operates three product segments: (1) Performance Coatings — proprietary hydrophilic, hemocompatible, and drug-delivery coatings (Preside platform) licensed to medical device OEMs serving neurovascular, peripheral, and coronary markets; (2) Interventional Medical Devices — the Pounce arterial and Pounce Venous thrombectomy systems, the Sublime Radial Access Platform, and the SurVeil drug-coated balloon for endovascular treatment of peripheral arterial and venous disease; and (3) In Vitro Diagnostics — BioFX TMB substrates, MatrixGuard diluent, protein stabilizers, blocking buffers, stop solutions, microarray slides, and antigens/antibodies (via DIARECT partnership) sold through shop.surmodics.com and international distributors. The company also operates a Contract Development & Manufacturing (CDMO) business providing end-to-end development and scalable manufacturing of complex medical devices for OEM partners.

Revenue mechanics combine OEM licensing/royalty streams (coatings), direct hardware sales (interventional devices), catalog-priced reagent sales (IVD e-commerce with unit prices ranging from $20 to $355), and professional services revenue (CDMO). The coatings and CDMO segments follow an enterprise sales-led motion with long qualification cycles tied to ISO 13485:2016 and ISO 9001:2015 certified manufacturing; IVD reagents are sold via a transactional e-commerce and distributor model; interventional devices are sold through a direct sales team to hospitals and medical facilities. SurModics holds a 40+ year IVD reagent track record with documented lot-to-lot consistency below 5% variation.

In May 2024, GTCR LLC announced a take-private acquisition of SurModics for approximately $627 million; the FTC's challenge was denied by the US District Court for the Northern District of Illinois in November 2025. Subsequently, the Pounce Thrombectomy System was divested to Endologix (closing May 18, 2026), and SurModics entered a merger/divestiture arrangement with Biocoat forming the SurModics Services & Technologies division (December 2025). The company maintains reported headcount of 251–500 employees and reported revenue in the approximately $126M range in FY2024.

Name

SurModics

Legal name

Surmodics, Inc.

Website

https://surmodics.com

Company type

Public

Founded year

1979

Operating status

Operating

Headcount range

251–500 employees

Short description

SurModics provides proprietary hydrophilic and drug-delivery coatings, interventional thrombectomy devices (Pounce, Sublime), and IVD reagents (BioFX substrates, MatrixGuard diluent) to medical device OEMs, IVD developers, and hospitals, with manufacturing in Minnesota and Ireland.

Ownership category

akta.pro rank

Product category

Medical Device Coatings and In Vitro Diagnostics

NAICS

Surgical Appliance and Supplies Manufacturing (339113), In-Vitro Diagnostic Substance Manufacturing (325413)

SIC

Surgical & Medical Instruments & Apparatus (3841), In Vitro & In Vivo Diagnostic Substances (2835)

akta.pro primary industry

Thrombectomy, Embolic Protection & Stroke Intervention Devices (HLAHAFAJ)

akta.pro secondary industry

Sterile Fill-Finish & Aseptic Manufacturing CDMO (HLAGABAH)

Keywords

• Medical device coatings
• Thrombectomy systems
• In vitro diagnostics
• Hydrophilic surface modification
• Contract medical manufacturing

Headquarters

HQ city

Eden Prairie

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Performance Coatings: Global leader in customized hydrophilic, hemocompatible, and drug-delivery coatings for intravascular medical devices. Serves neurovascular, peripheral, and coronary markets.
2. Interventional Medical Devices: Manufactures and sells medical devices including Pounce Thrombectomy System, Pounce Venous Thrombectomy System, and Sublime Radial Access Platform for endovascular treatment of peripheral arterial and venous disease.
3. In Vitro Diagnostics Products: Sells chemical components for IVD immunoassay tests and microarrays including TMB substrates, protein stabilizers, diluents, stop solutions, and microarray surfaces through e-commerce platform.
4. Contract Development & Manufacturing (CDMO): Provides end-to-end development and scalable manufacturing of complex medical devices for OEM partners.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

SurModics develops, manufactures, and sells surface modification coatings (hydrophilic, hemocompatible, drug-delivery) applied to intravascular medical devices, mechanical thrombectomy systems and radial access devices for endovascular treatment of peripheral arterial and venous disease, and chemical components (TMB substrates, protein stabilizers, diluents, blockers, microarray surfaces, antigens and antibodies) for in vitro diagnostic immunoassays. The company additionally provides end-to-end contract development and manufacturing (CDMO) services for complex medical device OEMs.

Product overview

SurModics provides a diversified portfolio of medical device coatings, in vitro diagnostic (IVD) products, and interventional medical devices. The company operates through three main segments: (1) Interventional Products including the Pounce™ Thrombectomy System (arterial, 2-10mm vessels), Pounce™ Venous Thrombectomy System (venous, 6-16mm vessels), Sublime™ Radial Access Platform, and Drug-Coated Balloons; (2) Performance Coatings featuring Preside™ Hydrophilic Coatings for neurovascular, coronary, and peripheral procedures; and (3) IVD Products including ELISA reagents (protein stabilizers, diluents, blockers, TMB substrates and stop solutions), microarray slides/surfaces, and antigens/antibodies through the DIARECT partnership. The company also offers Contract Development & Manufacturing (CDMO) services for complex medical devices.

Differentiator

Problem solved

Functional benefit

Brands

• Pounce™ Thrombectomy Platform: A mechanical thrombectomy system for non-surgical removal of peripheral arterial thrombi and emboli, with combined vessel diameter range of 2-10mm.
• Pounce™ Venous Thrombectomy System
• Sublime™ Radial Access Platform
• SurVeil™
• Preside™ Hydrophilic Coatings
• BioFX™
• MatrixGuard™ Diluent

Products and services

• Pounce Thrombectomy System

Quantifiable outcome

• High procedural success demonstrated in PROWL registry with 160 patients treated for real-world limb ischemia presentations
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

Three partnerships are on record, tiered core and minor.

• EndologixcoreOthers · 18 May 2026Endologix acquired the Pounce Thrombectomy System from SurModics, expanding its vascular intervention portfolio with the FDA-cleared mechanical thrombectomy platform. The transaction closed on May 18, 2026. A core group of SurModics employees supporting the Pounce platform transitioned to Endologix.
• BiocoatminorStrategic or Co-development Partner · 10 December 2025Biocoat announced formation of SurModics Services & Technologies division following merger and divestiture transactions. The division continues legacy operations after merging with SurModics and divesting certain assets, based in Horsham, Pennsylvania, providing advanced coating solutions and services to medical device manufacturers globally.
• Vetax MedicalminorStrategic or Co-development Partner · 6 July 2021SurModics acquired Vetax Medical for $39.9 million to expand its thrombectomy product line. The acquisition added the FDA 510(k)-cleared ReVene Thrombectomy Catheter designed for venous clot removal to SurModics' portfolio.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• AngioDynamics: AngioDynamics offers peripheral vascular intervention products including the AlphaVac mechanical thrombectomy system, directly competing with SurModics' interventional portfolio in the peripheral thrombectomy and vascular access market.
• DSM Biomedical (dsm-firmenich): DSM Biomedical provides biomedical materials including hydrophilic coatings and surface modification technologies for medical devices, directly competing with SurModics' Preside Hydrophilic Coatings and performance coatings portfolio.
• Penumbra: Penumbra develops mechanical thrombectomy systems (Indigo aspiration system) for peripheral and neurovascular applications, directly competing with SurModics' Pounce Thrombectomy Platform in the mechanical clot-removal category.
• Inari Medical: Inari Medical (acquired by Stryker in 2024) offers FlowTriever and ClotTriever systems for venous thromboembolism, directly competing with SurModics' Pounce Venous Thrombectomy System in the venous clot-removal market.
• Biocoat: Biocoat is a direct competitor in hydrophilic coatings for medical devices and entered into a structural transaction with SurModics in December 2025, suggesting close competitive overlap in the coatings and CDMO space.
• Integer Holdings: Integer Holdings is a leading medical device contract design and manufacturing organization (CDMO), directly comparable to SurModics' Contract Development & Manufacturing services for complex medical devices.
• Harland Medical Systems: Harland Medical Systems specializes in medical device coatings including hydrophilic and hemocompatible coatings, directly competing with SurModics' Preside Hydrophilic Coatings and broader performance coatings business.
• Bio-Rad Laboratories: Bio-Rad Laboratories is a major manufacturer of IVD reagents, immunoassay components, and diagnostic test kits, directly comparable to SurModics' BioFX TMB substrates, MatrixGuard diluents, and broader IVD reagent offerings.

Broad incumbents

• Boston Scientific: Boston Scientific is a large diversified medical device company with peripheral intervention, vascular, and drug-delivery coating products, representing a broader incumbent competitor to SurModics across multiple segments including coatings and interventional devices.
• Merit Medical Systems: Merit Medical is a broader incumbent in peripheral vascular and interventional devices, including catheters and clot management products, with overlapping capabilities to SurModics' Sublime Radial Access Platform and peripheral intervention portfolio.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks4 records

Key highlights5 records

Customer concentration

• Xx.com/Surmodics
• YouTubeyoutube.com/@surmodics
• LinkedInlinkedin.com/company/surmodics
• Facebookfacebook.com/profile.php

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A7 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SurModics