Add-on Acquisition • Medical Products

Conmed Acquires SurgiQuest

On November 16, 2015, Conmed acquired medical products company SurgiQuest from River Cities Capital Funds for 265M USD

Acquisition Context
  • This is Conmed’s 5th transaction in the Medical Products sector.
  • This is Conmed’s 3rd largest (disclosed) transaction.
  • This is Conmed’s 4th transaction in the United States.
  • This is Conmed’s 1st transaction in Connecticut.

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M&A Deal Summary

Date November 16, 2015
Target SurgiQuest
Sector Medical Products
Buyer(s) Conmed
Sellers(s) River Cities Capital Funds
Deal Type Add-on Acquisition
Deal Value 265M USD
Advisor(s) Piper Sandler & Co. (Financial)
Wiggin and Dana (Legal)

Target Company

SurgiQuest

Milford, Connecticut, United States
SurgiQuest is a developer, manufacturer and marketer of access technologies for minimally invasive surgery equipment. SurgiQuest was formed in 2005 and is based in Milford, Connecticut.
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Buyer Overview 1

Buyer

Conmed

Largo, Florida, United States

Category Company
Founded 1970
Sector Medical Products
Employees4,100
Revenue 1.3B USD (2024)
DESCRIPTION

Conmed is a medical technology company with an emphasis on surgical devices and equipment for minimally invasive procedures and monitoring. The Company’s products are used by surgeons and physicians in a variety of specialties including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology. Conmed was founded in 1970 and is based in Largo, Florida.


Deal Context for Buyer #
Overall 5 of 9
Sector: Medical Products 5 of 9
Type: Add-on Acquisition 4 of 6
State: Connecticut 1 of 2
Country: United States 4 of 8
Year: 2015 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-14 Viking Systems

Westborough, Massachusetts, United States

Viking Systems, Inc. is a developer, manufacturer and marketer of 3D and 2D visualization solutions for complex minimally invasive surgery. It actively markets and sells the only stand alone, FDA cleared, cost-effective 3D system for use in minimally invasive laparoscopic surgery. Viking provides surgeons with proprietary visualization systems enabling minimally invasive surgical procedures, which reduce patient trauma and recovery time.

Buy $23M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 MedShape - ExoShape ACL Product Line

Atlanta, Georgia, United States

MedShape, Inc. - ExoShape ACL Product Line represents a breakthrough in soft tissue fixation, as it was the first all-PEEK system to offer a non-rotational deployment and interference fixation approach for ACL reconstruction. Manufactured out of shape memory PEEK Altera®, the ExoShape fasteners are delivered in a low-profile shape for easy insertion and then fully expanded upon instantaneous deployment to effectively compress and secure the soft tissue graft inside the bone tunnel.

Buy -

Seller Profile 1

SELLER
DESCRIPTION

River Cities Capital Funds is a growth equity investment firm focused on healthcare services and information technology companies. River Cities seeks to invest $5 to $15 million in companies with at least $5 million in revenue. The Firm generally targets companies that pursue large, established markets with disruptive, “better, faster, cheaper” solutions. River Cities Capital Funds was established in 1994 and is headquartered in Cincinnati, Ohio.


Deal Context for Seller #
Overall 6 of 10
Sector: Medical Products 1 of 2
Type: Add-on Acquisition 4 of 8
State: Connecticut 1 of 1
Country: United States 6 of 10
Year: 2015 2 of 2
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-07 Intradiem

Marietta, Georgia, United States

Intradiem is a provider of a SaaS-based solution that automates intraday management and real-time processes and turns frontline workforces into real-time workforces that can adapt and respond to changing conditions and events throughout the day. Intradiem was founded in 1995 and is based in Marietta, Georgia.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-15 Faction

Denver, Colorado, United States

Faction is a provider of cloud computing services. Faction is entirely focused on providing its services through channel partners, such as value added resellers, managed service providers and data centers. Faction was established in 2006 and is based in Denver, Colorado.

Buy -