Teleflex is to acquire Vascular Solutions in a transaction valued at approximately US$1 billion. Under the terms of the agreement, Teleflex will acquire all of the issued and outstanding shares of Vascular Solutions common stock for US$56 per share, in cash.
The Boards of Directors of both Teleflex and Vascular Solutions have unanimously approved the transaction. This transaction is subject to the approval of Vascular Solutions’ shareholders and the satisfaction of customary closing conditions and is expected to close during the first half of 2017.
Founded in 1997, Vascular Solutions is an innovative medical device company that focuses on developing clinical solutions for minimally invasive coronary and peripheral vascular procedures. The company’s product line consists of more than 90 proprietary products and services that are sold to interventional cardiologists, interventional radiologists, electrophysiologists and vein specialists through its direct US sales force and international independent distributor network.
According to a company release, the combination is expected to accelerate the growth of Teleflex’s vascular and interventional businesses through increased revenue associated with entry into the coronary and peripheral vascular market, as well as increased cross-portfolio selling opportunities to both Teleflex and Vascular Solutions customer bases.