SurModics Inc (SurModics) provides surface modification and drug delivery coating technologies to the healthcare industry for the controlled, site-specific release of the drug into the surrounding environment by allowing therapeutic drugs to be incorporated within its proprietary polymer matrices. The company operates through two reportable business segments: Medical Device and In Vitro Diagnostics.

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SurModics Inc (SurModics) focuses on enhancing its technology offerings in the area of drug delivery, surface modification, and in vitro diagnostics through internal scientific investigation and proprietary product development. The company invested on its drug-coated balloon (DCB) platform to advance its development and launch it under the brand, SurVeil. SurModics also conducts research to advance immunoassay and molecular diagnostic applications, including new protein stabilizers, accessory reagents, surface coatings, and detection technologies for IVD test manufacturers. In FY2023, SurModics spent US$46.6 million on its R&D, which was 39.13% of its revenue, and decreased 7.9% YoY. As of September 30, 2023, it had 161 issued US patents and 303 international patents; and 37 pending US patent applications and 62 foreign patent applications. It has R&D facilities in Eden Prairie, Minnesota, the US and Ballinasloe, Ireland.