U.S. Surgical Acquires Confluent Surgical for $245M
Tyco International Ltd. today announced that its subsidiary U.S. Surgical entered into a definitive agreement to acquire privately-held Confluent Surgical, Inc., a developer and supplier of polymer-based technology used in sprayable surgical sealants and anti-adhesion products. The transaction is valued at $245 million and is expected to close by the end of the summer. Confluent Surgical, located in Waltham, Mass., has about 60 employees. The company markets DuraSeal, a neurosurgical sealant that was the first such product to receive FDA approval for use in cranial dural repair. This sealant, along with several other products in the company’s pipeline, is intended to improve patient outcomes by reducing leaks or adhesions across various surgical specialties.
July 17, 2006 Related topics: Mergers & Acquisitions, Surgery