FTC Loses Bid to Nix GTCR BC Holdings’ Purchase of Surmodics

A federal judge on Monday rejected the Federal Trade Commission’s attempt to block private equity firm GTCR BC Holdings’ acquisition of Surmodics Inc., a medical device coatings company.

Judge Jeffrey I. Cummings of the US District Court for the Northern District of Illinois denied the FTC’s motion for a preliminary injunction, clearing the path for the $627 million deal to move forward.

GTCR owns a majority stake in Biocoat Inc., a provider of coatings for medical devices.

The FTC filed its complaint earlier this year, arguing that competition between Surmodics and Biocoat has improved coating quality and services, the benefits ...