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News Breaks
March 12, 2013
16:34 EDTSURGSynergetics remains encouraged for FY13 by positive response for VersaVIT
Company said "Despite the slower sales growth, we remain encouraged by the early market positive response for VersaVIT, our innovative, portable vitrectomy machine and related procedural kits, which launched late last year. We expect improving performance over the balance of FY13 driven by improving order flow from our OEM partners and increasing contributions from our VersaVIT franchise."
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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