Teleflex sells surgical unit for $25M

Limerick, PA-based Teleflex said today that it's selling its SSI Surgical Services to a privately-owned healthcare company for $25 million. Teleflex did not name the buyer, which it described as a "privately owned multi-service line healthcare company." SSI features a range of endoscopic surgical services and sterile processing management services to help hospitals and surgery centers control costs and improve operational efficiency.

"The decision to divest SSI was made following a review of our portfolio and it was determined that SSI was not a strategic fit. This allows us to continue to reallocate resources to our higher margin businesses," states CEO Jeffrey Black. The deal is expected to close at the end of this quarter.

- check out Teleflex's release
- read the L.A. Times article for more