Teleflex, a global provider of medical technology products, has acquired Menlo Park, CA-based VasoNova in a transaction valued at up to $55 million. Teleflex's shares picked up five cents on the news to trade at $54.19 on the NASDAQ markets, the Philadelphia Inquirer notes.
Under the terms of the agreement, Teleflex will pay $25 million up front and will make additional payments of between $15 million and $30 million based upon the achievement of certain regulatory and revenue targets over the next three years. Teleflex will report the VasoNova business as part of the vascular access product line in its Critical Care division.
VasoNova makes a unique central venous catheter navigation technology that allows for real-time accurate confirmation of placement of peripherally inserted central catheters and central venous catheters in the lower one third of the superior vena cava.
"The addition of VasoNova's technology allows Teleflex to expand our vascular access product offerings and add real-time catheter tip positioning capability to our portfolio that is designed to permit clinicians to confirm central venous catheter location potentially without the need for an X-ray," says Jeffrey Black, chairman and CEO of Teleflex.
- get the Teleflex release
- check out the story from the Philadelphia Inquirer