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
After moving mostly higher early in the session, stocks have continued to perform well over the course of the trading day on Thursday. The gains on the day have lifted both the Dow and the S&P 500 to new record intraday highs. Firms responding to a survey by the Federal Reserve Bank of Philadelphia indicated continued growth in regional manufacturing activity in September, although the bank said the index of activity in the sector fell from its relatively high reading in August. With new construction of multi-family homes showing a substantial pullback, the Commerce Department released a report on Thursday showing a much steeper than expected drop in U.S. housing starts in the month of August.
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.