Teleflex Inc. (TFX: Quote) said it agreed to acquire substantially all of the assets of Axiom Technology Partners, LLC. The financial terms of the acquisition were not disclosed.
Axiom Technology Partners makes the EFx family of laparoscopic fascial closure system products.
Under the definitive agreement terms, Teleflex will purchase substantially all of the assets of Axiom Technology Partners, LLC, a portfolio company of Option3, LLC, a privately held medical device incubator focused on the minimally invasive surgery and endovascular markets.
This acquisition is expected to broaden Teleflex' general surgery product line and provide access to new sales channels. The EFx product portfolio includes both FDA-cleared and pipeline products designed for the safe and simple closure of abdominal trocar defects through which access ports and instruments were used during laparoscopic surgeries.
Jay White, Vice President and General Manager, Teleflex Surgical, said, "..With this acquisition, we will enhance our focus in OB/GYN and other advanced laparoscopic procedures while strengthening our existing access portfolio where we have several new products planned to launch in the next few months. The EFx system's unique value proposition will allow us to drive adoption in the fascial closure market which is currently less than 25% penetrated."
The deal is anticipated to close in May 2012.
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by RTT Staff Writer
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