Utica, N.Y.-based medical technology company CONMED Corp. on Monday announced a definitive agreement to pay $265 million to acquire privately-held SurgiQuest Inc., which makes access technologies for minimally invasive surgery.
Founded in 2006 and headquartered in Milford, SurgiQuest develops, manufactures, and markets the AirSeal System for use in laparoscopic and robotic procedures. Published clinical data demonstrates that AirSeal leads to shorter procedure times and reduced post-operative pain, according to a news release.
The deal is expected to close in the first quarter of 2016 pending customary closing conditions, including regulatory approval.
In fiscal year 2016, CONMED expects the acquisition to add $55 to $60 million to its revenue.
CONMED provides surgical devices and equipment for minimally invasive procedures. Its products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
