Minnesota-headquartered Surmodics, a leading U.S. medical device manufacturer, experienced a cyberattack on June 5 that led to a partial shutdown of its IT infrastructure. The company, known for being the largest domestic supplier of outsourced hydrophilic coatings used in devices like intravascular catheters, detected unauthorized access within its network and immediately took several systems offline. During the disruption, it continued fulfilling orders and shipping products through alternative channels.

The incident was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC), which noted that law enforcement has been informed. Surmodics joins Artivion and Masimo as the third publicly listed medical device company to report a cyberattack to the SEC in recent months.

With assistance from cybersecurity professionals, Surmodics has managed to restore essential IT operations, though a complete assessment of what data was compromised is still underway. Some systems remain in recovery.

“The Company remains subject to various risks due to the cyber Incident, including the adequacy of processes during the period of disruption of the Company's IT systems, diversion of management's attention, potential litigation, changes in customer behavior, and regulatory scrutiny,” said Timothy Arens, Chief Financial Officer of Surmodics, in the SEC filing.

The identity of the attackers remains unknown, and according to the company, no internal or third-party data has been leaked. Surmodics also confirmed it holds cyber insurance, which is expected to cover the bulk of the breach-related expenses.

The company has expressed concern about potential lawsuits stemming from the attack—a growing trend in the aftermath of corporate data breaches. Recent class actions have targeted firms like Coinbase and Krispy Kreme over compromised personal information.

Financially, Surmodics reported $28 million in revenue last quarter. It is currently involved in a legal dispute with the Federal Trade Commission (FTC), which is attempting to block a $627 million acquisition bid by a private equity firm. The FTC argues that the deal would merge the two largest players in the specialized medical coating industry, potentially reducing competition.