logo
Share SHARE
FONT-SIZE Plus   Neg

Teleflex Signs Definitive Pact With Tecomet To Divest OEM Orthopedics Business

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

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Online retail giant Amazon.com Inc. (AMZN) is reportedly in talks to buy luxury online fashion retailer Net-a-Porter. The news of acquisition was first reported by Women's Wear Daily, which said the deal would be completed for about 2 billion euros, indicating the biggest acquisition yet by Amazon.... Tim Cook, the CEO of tech giant Apple Inc., in an interview said he intends to give away all his wealth to charity. Cook, in an interview to Fortune, said he plans to donate all his wealth to philanthropic projects after paying for his 10-year old nephew's college education. According to Fortune,... Is it a 'personal life crisis' that led the Germanwings' co-pilot Andreas Lubitz to deliberately lowering the plane carrying 149 people to French Alps mountain? Police is investigating to find evidences to prove this suggestion.
comments powered by Disqus
RELATED NEWS
Trade TFX now with 
Follow RTT