Normedix: SurModics buys Twin Cities med-tech design firm in $14M deal

SurModics Inc. bought a Plymouth-based med-tech design and research firm in a deal worth up to $14 million. Eden Prairie-based SurModics said the acquisition of NorMedix Inc. will bolster its technology portfolio and expertise. NorMedix's focus is on catheters with ultra-thin walls. SurModics (Nasdaq: SRDX) paid $7 million up front for the company and promised $7 million more if it meets certain milestones. NorMedix CEO and President Gregg Sutton will join SurModics as vice president of research...