Teleflex Completes Acquisition of Market Leader in Hemostatic Products
December 28 2020 - 5:00PM
Teleflex Incorporated (NYSE:TFX), a leading global provider for
healthcare supplies and services, announced today that it has
completed the previously announced acquisition of Z-Medica, LLC, an
industry-leading manufacturer of hemostatic products.
On October 28, 2020, Teleflex announced a definitive agreement
to acquire Z-Medica. Under the terms of the agreement, Teleflex
will acquire Z-Medica for an upfront cash payment of $500 million
at closing, and up to an additional $25 million upon the
achievement of certain commercial milestones. Teleflex acquired
certain tax attributes in the transaction that are expected to
result in future tax benefits. Teleflex valued these tax attributes
at approximately $40 million in arriving at our purchase price.
Based on the date of closing, the acquisition is not expected to
significantly impact Teleflex’s 2020 revenue or adjusted earnings
per share. The transaction is expected to contribute between $60
million and $70 million of revenue and between $0.07 and $0.15 in
adjusted earnings per share in fiscal year 2021 (excluding
non-recurring purchase accounting items and other acquisition and
integration related costs). Beyond 2021, the Company expects the
acquisition to deliver a high-single digit revenue growth profile
and further accretion to adjusted earnings per share.
About Teleflex IncorporatedTeleflex 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 access, interventional
cardiology and radiology, anesthesia, emergency medicine, surgical,
urology 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®, Rüsch®, UroLift®, and Weck® – trusted brands united by a
common sense of purpose.
About Z-Medica, LLCZ-Medica, LLC, a Linden
Capital Partners portfolio company, is a medical device
manufacturer based in Wallingford, CT that is focused on the
development, sale and marketing of innovative hemorrhage control
products. For over a decade, Z-Medica has helped hospitals,
militaries, law enforcement, first responders and consumers around
the globe save lives and improve medical outcomes with their
QuikClot® brand of products which are manufactured in the United
States. For more information, visit http://www.QuikClot.com and
http://www.Z-Medica.com. Follow us on Twitter @QuikClot and
Facebook @QuikClotFans.
About Linden Capital PartnersLinden Capital
Partners is a Chicago-based private equity firm focused exclusively
on investing in the healthcare industry. Linden’s strategy is based
upon three elements: i) healthcare specialization, ii) integrated
private equity and operating expertise, and iii) strategic
relationships with large corporations. Linden invests in middle
market platforms across the medical products, specialty
distribution, pharmaceutical, and services segments of healthcare.
For more information, please visit www.lindenllc.com.
Forward-Looking StatementsAny statements
contained in this press release that do not describe historical
facts may constitute forward-looking statements. Any
forward-looking statements contained herein are based on our
management's current beliefs and expectations, but are subject to a
number of risks, uncertainties and changes in circumstances, which
may cause actual results or company actions to differ materially
from what is expressed or implied by these statements. These risks
and uncertainties are identified and described in more detail in
our filings with the Securities and Exchange Commission, including
our Annual Report on Form 10-K.
SourceTeleflex IncorporatedJake
ElguiczeTreasurer and Vice President, Investor
Relations610-948-2836
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