FTC Sues to Block GTCR-Surmodics Medical Device Deal

The Federal Trade Commission (FTC) has filed a lawsuit to block private equity firm GTCR's acquisition of Surmodics, a medical device coatings company, citing anticompetitive concerns. The FTC argues that the merger would create a company controlling over 50% of the market for hydrophilic coatings, essential for medical devices like catheters, which could lead to higher healthcare costs. This lawsuit marks the first significant action taken by the FTC under the Trump administration to address consumer costs in healthcare. FTC Chairman Andrew Ferguson emphasized the need to protect competition and reduce prices in the sector. The agency's unanimous decision reflects a bipartisan commitment to maintaining competitive markets. Both Surmodics and GTCR have not yet commented on the lawsuit.