The Price of Entry and the Path Forward
The proposed divestiture’s $8 million price tag—a fraction of the $210 million Biocoat paid for the same assets in 2022—raised eyebrows, but Judge Cummings said the figure reflects the small portion of Biocoat’s business being sold, representing just 10% of its total revenue.
The remaining 90%, he noted, would stay with Biocoat to fund critical research and development, helping Integer gain a foothold and maintain innovation in the coatings market.
FTC Temporarily Extends Block on the Deal
Although the court allowed GTCR’s acquisition to proceed, Judge Cummings granted the FTC’s request for a brief extension of a temporary restraining order through November 17, giving the agency time to consider appeal options. The extension came over company objections, which the judge dismissed as unreasonable in light of the federal government’s ongoing shutdown.
The FTC’s motion for a preliminary injunction, filed in July, aimed to delay the merger until the agency’s in-house review could play out. However, with the injunction now denied, GTCR and Surmodics are poised to close the transaction soon.
