ConMed is exploring a sale and has contacted large medical device companies to gauge their interest, according to a Reuters report.
ConMed, a surgical device maker, has asked its financial advisers — Bank of America, Merrill Lynch and Greenhill & Co — to contact orthopedic device makers about a possible sale.
The company has been under pressure from activist investors since last year, who took issue with the company's performance and corporate governance. It has roughly 3,600 employees and a direct selling presence in 16 countries outside the United States. It creates devices for a number of specialties, including orthopedics and sports medicine, gynecology, neurosurgery and gastroenterology, according to the report.
More Articles on Devices:
Mazor Robotics 2013 Net Loss Shoots to $20M
Advancement in Lateral Spine Technology: Q&A with Vertebral Technologies, Inc. CEO Dr. Jeffrey Felt
EDGE Orthopaedics Receives FDA 510(k) Clearance for BITE Compression Screws