New York-based medical technology company ConMed announced that it has signed an agreement to purchase surgical smoke evacuation technologies developer Buffalo Filter, a unit of filtration solutions provider Filtration Group, for $365 million.
Buffalo Filter said that the merger will enable it to continue to bring best-in-class smoke-evacuation products to a growing global market.
ConMed said that the purchase is a strong strategic fit with its general surgery portfolio, and the platform technology provides the company with a position in the high-growth smoke-evacuation market.
ConMed noted that it expects to fund the deal through a combination of new convertible notes and an expanded and amended credit facility and expects the purchase to be completed in the first quarter of next year.