Buffalo Filter, which has a medical products manufacturing plant in Lancaster, has been sold to a Utica-based company for $365 million.
Filtration Group sold the company to ConMed, a publicly traded medical device company based in Utica, after owning it since 2014. The transaction is expected to close in the first quarter of 2019.
"We believe that the combination of our dedicated teams, as well as our proven research and development expertise, will enable us to continue to bring best-in-class smoke-evacuation products to a growing global market," said Samantha Bonano, president and CEO of Buffalo Filter.
Buffalo Filter was founded in 1991 and makes surgical smoke evacuation technologies, to protect health care workers and patients.
ConMed officials, in a conference call about the deal, said Buffalo Filter is expected to generate $44 million in revenue in fiscal 2018.
“This acquisition is a strong strategic fit with our General Surgery portfolio, and the platform technology provides us a leading position in the high-growth smoke-evacuation market,” said Curt R. Hartman, ConMed's president and chief executive officer.
ConMed was founded in 1970 by Eugene Corosanti, who earned an accounting degree at Niagara University. ConMed in 2017 recorded net income of $55.5 million on revenues of $796 million.
Buffalo Filter moved into its $5 million location in Lancaster in 2011, after leasing space in Amherst.