UTICA, N.Y.--(BUSINESS WIRE)--CONMED Corporation (NYSE: CNMD) today announced an amendment to its existing credit agreement, including adjustments to, and suspension of, certain debt covenant thresholds. The terms of the amended agreement are temporary in nature and were granted to provide the Company with financial assurance and flexibility as it navigates the COVID-19 pandemic.

Key Amended Covenant Highlights

• Suspension of debt leverage covenants until the second quarter of 2021, unless terminated earlier by the Company due to compliance with the existing covenants
• Adjustments to Fixed Charge Coverage Ratios and Minimum Liquidity commitments
• Modification of the interest rate and fees during the suspension period

Curt Hartman, CONMED’s President and Chief Executive Officer, commented, “We believe the amended credit agreement provides us with the appropriate level of flexibility to strategically manage the business through this global pandemic and positions us well for market recovery. We appreciate the strong support and partnership from J.P. Morgan and our bank group as we navigate this unprecedented situation.”

The Company will hold its first quarter 2020 earnings call on April 29, 2020 and will further discuss this amendment to its credit agreement at that time.

About CONMED Corporation

CONMED is a medical technology company that provides surgical devices and equipment for minimally invasive procedures. The Company’s products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, neurosurgery, thoracic surgery and gastroenterology. For more information, visit www.conmed.com.