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ConMed gains surgical imaging tech with $22.5m Viking buy

This article was originally published in Clinica

Executive Summary

Surgical devices specialist ConMed has agreed to acquire Viking Systems, giving it a 3D imaging system for use during minimally-invasive surgery. The agreed price of $0.27 per share, or $22.5m in total, represents a 42% premium over Viking's closing share price of $0.19 on 13 August, the day before the deal was announced. The transaction is expected to close in the fourth quarter. Viking's lead product, the Viking 3D-HD Vision System, is a three-dimensional vision system which employs a flat screen monitor and passive glasses, and is used by surgeons in various laparoscopic procedures, including urologic, gynaecologic, bariatric, cardiac, neurologic and general surgery. The Westborough, Massachusetts company claims the device is the only stand-alone 3D laparoscopic vision system that is both US FDA-cleared and CE-marked for sale in Europe. ConMed (Utica, New York) manufactures products for eight segments: arthroscopy, electrosurgery, endoscopy, endoscopic technologies, endosurgery, integrated systems, patient care and powered surgical instruments.

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