FTC Sues GTCR, Surmodics Over Medical Device Coatings Deal (1)

The Federal Trade Commission sued Thursday to block private equity firm GTCR BC Holdings’ acquisition of Surmodics Inc., alleging the deal will lead to further concentration in the market for coatings used by medical device manufacturers.

The agency filed a complaint under seal in the US District Court for the Northern District of Illinois, seeking to block the deal until an administrative proceeding could be resolved. An FTC statement said the commissioners voted 4-0 to bring the action.

The lawsuit is the first seeking to block an M&A deal in the second Trump administration under FTC Chairman Andrew Ferguson, who ...