Medical technology firm Conmed has signed an agreement to acquire Filtration Group’s business unit, Buffalo Filter, for $365m.
Established in 1991, Buffalo Filter is engaged in the development of advanced surgical smoke evacuation technologies.
Buffalo Filter president and CEO Samantha Bonano said: “We believe that the combination of our dedicated teams, as well as our proven research and development expertise, will enable us to continue to bring best-in-class smoke-evacuation products to a growing global market.”
Buffalo Filter manufactures products such as smoke evacuation pencils and smoke evacuators, as well as laparoscopic solutions.
Surgical smoke is said to be a harmful by-product generated from the use of lasers, electrosurgical pencils, ultrasonic devices and other surgical instruments. Its surgical smoke evacuators can be used by both staff and patients to reduce the impact of these conditions.
Buffalo Filter manufactures filters, which are suitable for use with the firm’s surgical smoke plume evacuators and other manufacturers’ smoke evacuation systems.
The company produces surgical smoke evacuation pencils and adapters such as PlumePen Ultra, PlumePen Elite, PlumePen Pro, PenAdapt and SnapEvac.
Buffalo Filter’s laparoscopic solutions include laparoscopic smoke filtration devices, laparoscopic robotic solutions and LaparoLight Veress needle solutions.
Subject to customary closing conditions, including receipt of US regulatory approval, the deal is expected to be completed in the first quarter of 2019.
Conmed intends to finance the transaction through a combination of new convertible notes, and an expanded and amended credit facility.
Conmed president and CEO Curt Hartman said: “This acquisition is a strong strategic fit with our General Surgery portfolio, and the platform technology provides us a leading position in the high-growth smoke-evacuation market.”
Based in Utica of New York, Conmed is involved in the production of surgical devices and equipment for minimally invasive procedures.
The surgeons and physicians can use the firm’s products in various specialties, including orthopedics, general surgery, gynecology, neurosurgery and gastroenterology.
With around 3,100 employees, Conmed has direct selling operations in 19 countries.