Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Teleflex Signs Definitive Pact With Tecomet To Divest OEM Orthopedics Business

RELATED NEWS
Trade TFX now with 

Teleflex Incorporated (TFX: Quote) Wednesday announced that it has signed a definitive agreement with Tecomet, a contract manufacturing, engineering and metal fabrication company, to divest its OEM orthopedics business for a total cash consideration of $45.20 million.

The global provider of medical technology products that the sale transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2012.

The company stated that the Medical OEM orthopedics business includes the Beere Medical and SMD brand product lines. Beere Medical offers one of the world's largest collections of custom surgical instruments used for orthopedic and spinal procedures. SMD is a market leader in micro-machined products ranging from simple components to complex devices.

"The decision to divest the OEM orthopedics business is consistent with our strategy to focus on our branded products, invest in late-stage innovative technologies to support our long-term growth, and expand both our gross and operating margins," stated Benson F. Smith, Chairman, President and Chief Executive Officer

Register
To receive FREE breaking news email alerts for Teleflex Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.