![]() Advances in medical device technology have helped drive improved device efficacy and patient outcomes. Its coatings are classified as lubricious and hemocompatible drug delivery are found in stents, drug-covered balloons and transcathers, as well as catheter-based systems. Tell me more about its surface modification coatings?Īccording to its 10-K, the company's coatings are used to facilitate the movement and placement of medical devices by reducing friction as well as for drug delivery and local site drug administration. Its products consist of a wide range of chemicals, reagents, antibodies, and antigens for a growing list of in vitro diagnostics tests and microassays. Its smaller in vitro segment constituted 26% of total FY 2015 sales. Its coatings have a diverse range of applications, they can be used to deliver drugs to specific targets in the vascular system (mainly to prevent clots and restenosis in stent placement as well as to promote healing). ![]() Its coatings consist of surface modification chemicals used in intravascular devices (catheters that travel through blood vessels). Its medical device coatings segment generated 74% of total sales in 2015. The company has organized around two segments: medical device coatings and in vitro and molecular diagnostics. The company, a global leader in surface modification, formulates coatings for medical devices as well as proteins and reagents for in vitro and immunoassay diagnostic testing. What does the company's name "SurModics" mean and what does it do? How is it organized? As our population ages, the amount of seniors with coronary artery disease should increase, boosting demand for both treatments. Depending on the severity of this disease, it can be treated with either drugs or stents. Unfortunately, the company is not exactly a name you would recognize, unless you are a cardiologist or a vascular surgeon.Ĭoronary artery disease affects more the 15 million Americans, making it the most common form of heart disease. SurModics spends roughly 25% per annum of total revenues on R&D. Unlike some companies in the medical space funding, R&D is a top priority. Other positive attributes I like include: its efforts to apply its repertoire of medical expertise to develop new innovative medical solutions as well as its desire to expand through bolt-on acquisitions when economically feasible. ![]() It has several characteristics I look for in medical device, micro-cap companies including: it trades under the radar, it is not to the best of my knowledge followed too closely on Wall Street, it is not overpriced and it manufactures and develops medical devices based on its proprietary coatings technology. After screening over a hundred companies in the medical space, I came across Eden, Prairie-based SurModics ( NASDAQ: SRDX), founded in 1979. Despite all the negative press you read in the papers about drug and medical device companies that skimp on R&D, letting others do the work, it's nice to come across one company that is committed to R&D.
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