Teleflex closes $45M ortho sale

Teleflex Medical ($TFX) closed a deal to unload its OEM orthopedics business, selling the unit to Tecomet for $45.2 million.

The unit brought in $36 million for Teleflex last year and sells the Beere Medical and SMD product lines, offering surgical tools, micro-machines and spinal implants, among other devices. The divestment is part of Teleflex's continued efforts to refocus on marketable products and late-stage techs, the company has said, and the devicemaker has done just that with its recent M&A spree.

First, Teleflex spent $30 million on Semprus BioSciences, an MIT spinout that markets a polymer coating for implantable devices. Then the company dropped $15 million on Hotspur Technologies, taking up that company's three 501(k)-cleared, CE marked catheters. This week, Teleflex splurged on LMA International, a maker of laryngeal masks, putting down $276 million in a deal expected to close in the fourth quarter.

CEO Benson Smith said the company's deal-packed summer was designed to expand Teleflex's product portfolio, saying the LMA deal alone will create a respiratory and anesthesia unit worth $530 million in sales. The company said the buyouts will increase its earnings per share by 3 cents to 4 cents this year and 35 cents to 40 cents in the next.

- read Teleflex's release

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