The Federal Trade Commission (FTC) has included Illinois and Minnesota as co-plaintiffs in its ongoing lawsuit challenging GTCR BC Holdings, LLC's acquisition of Surmodics, Inc. The revised complaint also names GTCR, LLC as an additional defendant. The lawsuit contends that the transaction would result in a combined company having control over more than half of the market for outsourced hydrophilic coatings. These coatings are essential in the manufacturing of medical devices like catheters and guidewires.
According to the complaint, Surmodics is the leading provider in this market, while GTCR owns a majority stake in Biocoat, Inc., the second-largest provider. The lawsuit asserts that the acquisition would reduce direct competition, which currently contributes to lower prices, improved quality, and product innovation that benefit medical device makers and patients alike.
The amended complaint was submitted to the U.S. District Court for the Northern District of Illinois.
The FTC continues to advocate for competition and consumer protection and emphasizes that it will never request money, make threats, or promise prizes. Consumers can learn more about competition benefits or file an antitrust complaint by following the FTC on social media, subscribing to press releases, or reading their blog.
