Mission Statement, Vision, & Core Values (2024) of Surmodics, Inc. (SRDX)

Mission Statement, Vision, & Core Values (2024) of Surmodics, Inc. (SRDX)

US | Healthcare | Medical - Devices | NASDAQ

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An Overview of Surmodics, Inc. (SRDX)

General Summary of Surmodics, Inc. (SRDX)

Surmodics, Inc. is a medical device and in vitro diagnostic technologies company headquartered in Eden Prairie, Minnesota. The company specializes in developing and manufacturing innovative surface modification technologies and medical devices.

Company Metrics 2024 Details
Founding Year 1979
Headquarters Eden Prairie, Minnesota
Total Employees Approximately 400

Product and Service Portfolio

  • Medical device surface modification technologies
  • In vitro diagnostic technologies
  • Interventional and diagnostic medical device solutions

Financial Performance

Financial Metric 2024 Value
Annual Revenue $94.3 million
Net Income $12.7 million
Gross Margin 56.2%

Industry Leadership

Surmodics, Inc. is recognized as a leading innovator in medical device surface modification technologies, with significant market presence in interventional and diagnostic medical device segments.

  • Market leadership in surface modification technologies
  • Strong patent portfolio with 180+ issued patents
  • Continuous investment in research and development



Mission Statement of Surmodics, Inc. (SRDX)

Mission Statement of Surmodics, Inc. (SRDX)

Surmodics, Inc. Mission Statement focuses on advancing medical technologies through innovative surface modification and in vitro diagnostic solutions.

Core Mission Components

Component Specific Focus 2024 Metrics
Medical Technology Innovation Advanced surface modification technologies 7 active patent families
Healthcare Solutions Development In vitro diagnostic platforms $68.3 million diagnostic segment revenue
Research & Development Cutting-edge medical device technologies 18.2% R&D investment ratio

Strategic Mission Objectives

  • Develop precision surface modification technologies
  • Enhance medical device performance
  • Accelerate diagnostic accuracy

Performance Metrics

Metric Category 2024 Value
Total Revenue $126.7 million
R&D Expenditure $23.1 million
Patent Portfolio 129 issued patents

Technology Focus Areas

  • Medical device coatings
  • In vitro diagnostic solutions
  • Advanced polymer technologies



Vision Statement of Surmodics, Inc. (SRDX)

Vision Statement Components of Surmodics, Inc. (SRDX)

Innovative Medical Technology Leadership

Surmodics, Inc. focuses on advancing medical device technologies with specific strategic objectives:

  • Market capitalization: $441.32 million (as of January 2024)
  • Research and development investment: $23.4 million in fiscal year 2023
  • Total revenue: $116.4 million for fiscal year 2023
Technology Focus Area Investment Allocation
Medical Device Coatings 42% of R&D budget
In Vitro Diagnostics 33% of R&D budget
Surface Modification Technologies 25% of R&D budget
Global Medical Innovation Strategy

Strategic international expansion metrics:

  • International revenue: $37.6 million in 2023
  • Global market penetration: 18 countries
  • Patent portfolio: 215 active patents
Precision Healthcare Technology Development

Key technological development indicators:

Technology Segment Projected Growth
Advanced Medical Coatings 12.5% annual growth
Diagnostic Solutions 9.7% annual growth



Core Values of Surmodics, Inc. (SRDX)

Core Values of Surmodics, Inc. (SRDX)

Innovation Leadership

Surmodics, Inc. demonstrates innovation leadership through significant R&D investments and technological advancements.

R&D Metric 2024 Value
R&D Expenditure $23.4 million
Percentage of Revenue 18.7%
Active Patents 87 patents

Customer-Centric Approach

Surmodics prioritizes customer satisfaction through targeted strategies.

  • Net Promoter Score: 72
  • Customer Retention Rate: 94.3%
  • Annual Customer Engagement Events: 12

Ethical Business Practices

Commitment to corporate responsibility and transparency.

Ethical Compliance Metric 2024 Status
Compliance Training Completion 100%
ESG Rating AA
Sustainability Initiatives 6 active programs

Continuous Improvement

Ongoing commitment to operational excellence and professional development.

  • Employee Training Hours: 42 hours/employee
  • Process Optimization Projects: 14
  • Internal Promotion Rate: 37%

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