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Stock Market & Financial Investment News

News Breaks
December 12, 2012
09:20 EDTSURGSynergetics growth trends may be poised to rebound, says Benchmark Co.
After Synergetics reported in-line Q1 EPS, Benchmark thinks the revenue of the company's previously weak Ophthalmic division appears to have stabilized. The firm expects the company's OEM business to continue to be strong and it maintains a Buy rating.
News For SURG From The Last 14 Days
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December 10, 2014
16:10 EDTSURGSynergetics reports Q1 EPS 3c, consensus 2c
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16:03 EDTSURGSynergetics acquires Sterimedix for $13.5M
Synergetics USA announced it has acquired Sterimedix, a private manufacturing company incorporated in England and Wales, for a net cash consideration of $13.5M. Sterimedix manufactures and distributes cannulas, needles and other disposable products for ophthalmic and aesthetic procedures. Sterimedix generated total revenue of approximately $6.4M during its fiscal year ended December 31, 2013. Sterimedix's sales are expected to grow approximately 15% on a constant currency basis for the calendar year ended December 31, 2014. Sterimedix is solidly profitable on an operating basis. In addition to the cash consideration, the agreement provides for potential gross profit margin earn-outs through December 31, 2017. Synergetics CEO David Hable said, "Sterimedix fits squarely within our strategy to identify strong ophthalmic businesses to enhance our company's long-term revenue growth and profitability. We anticipate the acquisition will be accretive to our fiscal 2015 operating and net income."

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