WAYNE, Pa.--(BUSINESS WIRE)--Feb. 17, 2017--
Teleflex Incorporated (NYSE: TFX), a leading global provider of medical
technologies for critical care and surgery, announced today the
completion of its previously announced acquisition of Vascular
Solutions, Inc. On December 2, 2016, the two companies announced a
definitive agreement for Teleflex to acquire all of the issued and
outstanding shares of Vascular Solutions common stock for $56.00 per
share, in cash.
Vascular Solutions is an innovative medical device company that focuses
on developing clinical solutions for minimally invasive coronary and
peripheral vascular procedures. As previously announced, the combination
is expected to meaningfully accelerate the growth of Teleflex’s vascular
and interventional businesses by its entry into the coronary and
peripheral vascular market, as well as increased cross-portfolio selling
opportunities to both Teleflex and Vascular Solutions customer bases.
Teleflex will provide additional details on the transaction, including
an update to its fiscal year 2017 financial outlook as a result of this
transaction, on its fourth quarter and full year 2016 investor
conference call. The call will be held at 8:00 a.m. (ET) on Thursday,
February 23, 2017. The call can be accessed through a live audio webcast
on the company’s website, www.teleflex.com.
An audio replay of the call will also be available on the website from
February 23, 2017 at 11:00 a.m. (ET) to February 28, 2017 at 11:59 p.m.
(ET) by calling 855-859-2056 (U.S./Canada) or 404-537-3406
(International), Passcode: 65576607.
ABOUT TELEFLEX INCORPORATED
Teleflex is a global provider of medical technologies designed to
improve the health and quality of people’s lives. We apply purpose
driven innovation - a relentless pursuit of identifying unmet clinical
needs - to benefit patients and healthcare providers. Our portfolio is
diverse, with solutions in the fields of vascular and interventional
access, surgical, anesthesia, cardiac care, urology, emergency medicine
and respiratory care. Teleflex employees worldwide are united in the
understanding that what we do every day makes a difference. For more
information, please visit teleflex.com.
Teleflex is the home of Arrow®, Deknatel®, Hudson
RCI®, LMA®, Pilling®, Rusch®
and Weck® - trusted brands united by a common sense of
purpose.
ABOUT VASCULAR SOLUTIONS
Vascular Solutions, Inc. is an innovative medical device company that
focuses on developing unique clinical solutions for coronary and
peripheral vascular procedures. The company’s product line consists of
more than 90 products and services that are sold to interventional
cardiologists, interventional radiologists, electrophysiologists and
vein specialists through its direct U.S. sales force and international
independent distributor network. All listed trademarks are the property
of Vascular Solutions, Inc.
CAUTION CONCERNING FORWARD-LOOKING INFORMATION
This press release contains forward-looking statements, including, but
not limited to, statements related to expected benefits to Teleflex from
the acquisition, including acceleration of revenue growth, anticipated
accretion to adjusted margins and adjusted earnings per share and
longer-term benefits resulting from Vascular Solutions’ R&D pipeline and
Teleflex’s international distribution network; expected transaction
synergies; expectations with respect to return on invested capital
resulting from the acquisition; Teleflex’s expectations with respect to
its long-term debt to adjusted EBITDA levels; and Teleflex’s
expectations with respect to increased cross-portfolio selling
opportunities. Actual results could differ materially from those in the
forward-looking statements due to, among other things, unanticipated
difficulties and expenditures in connection with integration programs;
customer and shareholder reaction to the transaction; risks associated
with the financing of the transaction; disruption from the transaction
making it more difficult to maintain business and operational
relationships; significant transaction costs; unknown liabilities; the
risk of litigation and/or regulatory actions related to the proposed
acquisition; changes in general and international economic conditions,
including fluctuations in foreign currency exchange rates and the impact
of the United Kingdom's vote to leave the European Union; and other
factors described or incorporated in our filings with the Securities and
Exchange Commission (“SEC”), including our Annual Report on Form 10-K
for the year ended December 31, 2015.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170217005482/en/
Source: Teleflex Incorporated
Teleflex Incorporated
Jake Elguicze
Treasurer and Vice
President of Investor Relations
610-948-2836