Teleflex Medical ($TFX) is making more M&A headlines this summer, now agreeing to buy LMA International for $276 million.
The firm markets a line of laryngeal masks, or airway-management devices used in anesthesia and emergency care. LMA also sells devices designed to administer drugs into the larynx.
Teleflex says the acquisition will boost its respiratory and anesthesia business, and the company expects the buyout to increase its earnings per share by 3 cents to 4 cents this year and 35 cents to 40 cents in the next. LMA grossed about $123.9 million last year, and Teleflex CEO Benson Smith said bringing that company into the fold will create a respiratory and anesthesia unit worth $530 million in sales.
"The addition of these businesses significantly strengthens and expands our global anesthesia product portfolio, providing opportunities with respect to key clinical U.S. and international call points, while also further strengthening our [group purchasing] relationships," Smith said in a statement.
The companies' boards of directors have already signed off on the deal, and it now awaits shareholder approvals and other customary hurdles. Teleflex expects to have the purchase squared away by the fourth quarter of this year.
The LMA deal is Teleflex's third acquisition this summer. In June, the company spent $30 million on Semprus BioSciences, an MIT spinout that markets a polymer coating for implantable devices. Then, last month, Teleflex announced a same-day buy-and-sell, snapping up catheter producer Hotspur Technologies for $15 million and selling its own orthopedics business to Tecomet for $45.2 million.
- read Teleflex's release
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