Attorney General Raoul Joins Lawsuit Against Private Equity Monopolization Of Critical Health Care Companies
CHICAGO – Attorney General Kwame Raoul, with Minnesota Attorney General Keith Ellison, today announced they have joined the Federal Trade Commission’s (FTC) lawsuit to block the acquisition of Surmodics Inc. (Surmodics) by GTCR BC Holdings LLC (GTCR) alleging that the deal, which seeks to combine the two largest manufacturers of critical medical device coatings, is anticompetitive. “The proposed acquisition of Surmodics by a private equity firm represents a troubling trend of wealthy investors attempting to limit competition and innovation in a market while extracting advantages that come from eliminating competitors,” Raoul said. “If approved, this acquisition would increase prices for Illinois residents by putting profits before people. I will continue to work to increase options for consumers and rein in anticompetitive behavior wherever it occurs.” In their lawsuit, Raoul and the FTC allege that private equity firm GTCR’s proposed acquisition
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