Private Equity Firm GTCR's Bid to Combine Medical Device Coating Makers Faces FTC Opposition

GTCR's proposed acquisition of Surmodics would give it a 60% market share in hydrophilic coatings for medical devices, harming competition, the FTC argues. The agency is seeking to block the deal, citing the potential harm to the market for life-saving technologies. GTCR claims the FTC is using a flawed method to calculate market share and that the deal won't harm competition. The trial is ongoing in Chicago.