Teleflex Incorporated Completes Acquisition of Vascular Solutions
February 17 2017 - 10:43AM
Business Wire
Teleflex Incorporated (NYSE: TFX), a leading global provider of
medical technologies for critical care and surgery, announced today
the completion of its previously announced acquisition of Vascular
Solutions, Inc. On December 2, 2016, the two companies announced a
definitive agreement for Teleflex to acquire all of the issued and
outstanding shares of Vascular Solutions common stock for $56.00
per share, in cash.
Vascular Solutions is an innovative medical device company that
focuses on developing clinical solutions for minimally invasive
coronary and peripheral vascular procedures. As previously
announced, the combination is expected to meaningfully accelerate
the growth of Teleflex’s vascular and interventional businesses by
its entry into the coronary and peripheral vascular market, as well
as increased cross-portfolio selling opportunities to both Teleflex
and Vascular Solutions customer bases.
Teleflex will provide additional details on the transaction,
including an update to its fiscal year 2017 financial outlook as a
result of this transaction, on its fourth quarter and full year
2016 investor conference call. The call will be held at 8:00 a.m.
(ET) on Thursday, February 23, 2017. The call can be accessed
through a live audio webcast on the company’s website,
www.teleflex.com. An audio replay of the call will also be
available on the website from February 23, 2017 at 11:00 a.m. (ET)
to February 28, 2017 at 11:59 p.m. (ET) by calling 855-859-2056
(U.S./Canada) or 404-537-3406 (International), Passcode:
65576607.
ABOUT TELEFLEX INCORPORATED
Teleflex is a global provider of medical technologies designed
to improve the health and quality of people’s lives. We apply
purpose driven innovation - a relentless pursuit of identifying
unmet clinical needs - to benefit patients and healthcare
providers. Our portfolio is diverse, with solutions in the fields
of vascular and interventional access, surgical, anesthesia,
cardiac care, urology, emergency medicine and respiratory care.
Teleflex employees worldwide are united in the understanding that
what we do every day makes a difference. For more information,
please visit teleflex.com.
Teleflex is the home of Arrow®, Deknatel®, Hudson RCI®, LMA®,
Pilling®, Rusch® and Weck® - trusted brands united by a common
sense of purpose.
ABOUT VASCULAR SOLUTIONS
Vascular Solutions, Inc. is an innovative medical device company
that focuses on developing unique clinical solutions for coronary
and peripheral vascular procedures. The company’s product line
consists of more than 90 products and services that are sold to
interventional cardiologists, interventional radiologists,
electrophysiologists and vein specialists through its direct U.S.
sales force and international independent distributor network. All
listed trademarks are the property of Vascular Solutions, Inc.
CAUTION CONCERNING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements,
including, but not limited to, statements related to expected
benefits to Teleflex from the acquisition, including acceleration
of revenue growth, anticipated accretion to adjusted margins and
adjusted earnings per share and longer-term benefits resulting from
Vascular Solutions’ R&D pipeline and Teleflex’s international
distribution network; expected transaction synergies; expectations
with respect to return on invested capital resulting from the
acquisition; Teleflex’s expectations with respect to its long-term
debt to adjusted EBITDA levels; and Teleflex’s expectations with
respect to increased cross-portfolio selling opportunities. Actual
results could differ materially from those in the forward-looking
statements due to, among other things, unanticipated difficulties
and expenditures in connection with integration programs; customer
and shareholder reaction to the transaction; risks associated with
the financing of the transaction; disruption from the transaction
making it more difficult to maintain business and operational
relationships; significant transaction costs; unknown liabilities;
the risk of litigation and/or regulatory actions related to the
proposed acquisition; changes in general and international economic
conditions, including fluctuations in foreign currency exchange
rates and the impact of the United Kingdom's vote to leave the
European Union; and other factors described or incorporated in our
filings with the Securities and Exchange Commission (“SEC”),
including our Annual Report on Form 10-K for the year ended
December 31, 2015.
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version on businesswire.com: http://www.businesswire.com/news/home/20170217005482/en/
Teleflex IncorporatedJake ElguiczeTreasurer and Vice President
of Investor Relations610-948-2836
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