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
Tech giant Apple Inc. has developed a new technology that will prohibit audiences using their iPhones to record concerts. The Cupertino, California-based company has secured a patent in the US for its new technology. The technology uses infrared signals to shut down cameras on audience members' smartphones. The... Snacks giant Mondelez International Inc. (MDLZ) made a takeover bid of $23 billion to acquire chocolate behemoth Hershey Co. (HSY) that would create the world's largest chocolate company. Nevertheless, shares of Hershey jumped over 15 percent after the company revealed that it has rejected the offer. "The... Mortgage rates dropped this week to the lowest level in more than three years hurt by the UK's shocking decision to exit European Union. Releasing the results of its primary mortgage market survey, Freddie Mac said that the 30-year fixed-rate mortgage or FRM averaged 3.48 percent for the week ended...
comments powered by Disqus
Follow RTT