logo
Share SHARE
FONT-SIZE Plus   Neg

Teleflex Agrees To Buy Axiom Technology Partners, LLC - Quick Facts

Teleflex Inc. (TFX) 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Casino operator Las Vegas Sands Corp. (LVS), Monday said its second-quarter profit dropped from last year, hurt largely by continued challenging environment in the high-end gambling business in Macao, China. Earnings for the quarter fell short of Wall Street expectations, as did revenues. Second-quarter... Analog chip maker Texas Instruments Inc. (TXN), Monday reported a 12 percent jump in profit for the second quarter, driven largely by better cost control and higher revenues. Earnings for the quarter trumped analysts' expectations, as did revenues. The company also detailed a strong outlook for the third... UPS (UPS) has announced the expansion of its UPS Worldwide Express package service to reach 117 countries and territories. UPS, the world's largest package delivery services, delivers more packages internationally than any other carrier. Over 50 countries and territories have been added to the UPS...
comments powered by Disqus
Follow RTT